MAN Presents Raised Bid for Scania

German industrial group MAN has formally presented an increased offer for Scania.

But the 13.05 billion US dollar offer was once again turned down by the Swedish truck maker.

MAN said it would press ahead with its hostile bid and gave Scania shareholders until December 11 to accept the offer.

The German group first approached Scania in mid-September to create Europe’s biggest truck maker and the third-largest in the world, after Volvo and DaimlerChrysler.

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