Rumors of Possible Bid for Scania
Swedish truck maker Scania said on Tuesday it is expecting to receive a bid from German rival MAN.
Trading in Scania was suspended on the Stockholm Exchange Tuesday, but resumed Wednesday morning, when shares rose almost 20 percent in the first 90 minutes. According to the business newspaper “Dagens Industri” the Swedish holding group Investor, one of the main Scania shareholders, is ready to sell its stake to MAN.
The European Commission would have to approve a deal. Six years ago the commission rejected a merger between Scania and Volvo, the world’s number two truck maker.