Porsche Plans VW Offer
03-25-07, 07:06 AM
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Lexus Test Driver
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Porsche Plans VW Offer
German sports car maker Porsche AG Saturday said that it intends to launch a bid for the whole of Volkswagen AG after it has completed raising its stake in Europe's biggest car manufacturer to 31%, from 27.3%.
Porsche said it expects to pay €100.92 (US$135) per VW share under its offer, the minimum price prescribed by German law. It said it doesn't want to pay a premium to that price because VW's ordinary shares have already risen 100% since Porsche first acquired a stake in VW in September 2005.
Porsche said it expects to pay €100.92 (US$135) per VW share under its offer, the minimum price prescribed by German law. It said it doesn't want to pay a premium to that price because VW's ordinary shares have already risen 100% since Porsche first acquired a stake in VW in September 2005.
Sorry it's not all of the article seeing I am not a member of the WSJ.
03-25-07, 05:46 PM
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All this time I actually thought it was the other way around regarding VW and Porsche's relationship. I figured VW was the monster in this because of their ownership of Audi, Bentley and the like.
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