VW Moves Toward MAN Deal With Boards' Approval

Law360, New York (April 25, 2013, 6:15 PM EDT) -- Volkswagen AG's plan to take full control of truck maker MAN SE notched the approval of both companies' supervisory boards, the German automaker said Thursday, pushing forward a broader plan to consolidate three Volkswagen truck-manufacturing units into a single business.

Under the terms of the so-called domination agreement, Volkswagen would pay €80.89 ($105.80) for each share of MAN it does not already own. The famed carmaker currently holds a MAN stake of just more than 75 percent. It was unclear how hefty a price tag the...
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