Volkswagen, Porsche Merger Delayed Over Legal Woes

Law360, New York (September 9, 2011, 12:30 PM EDT) -- Facing a barrage of legal challenges, Volkswagen AG and Porsche SE announced Thursday that their merger would not be completed by the end of the year as planned.

In a statement on its website, Volkswagen said that despite the delay, the two companies remained “committed to the goal of creating an integrated automotive group” and were “convinced that this will take place.”

Wolfsburg, Germany-based Volkswagen said the main reasons for the delay were an ongoing market manipulation probe by German prosecutors and a raft of litigation...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.