Gojirra99

PRESS RELEASE :


Porsche submits mandatory offer for Volkswagen shares

Dr. Ing. h.c. F. Porsche AG, Stuttgart, Germany, submitted its mandatory offer to acquire shares of Volkswagen AG, Wolfsburg, Germany, on this Monday after the offer documentation was officially approved by the Federal Agency for Financial Services Supervision (BaFin) for publication. The acceptance period is limited to approximately four weeks and ends on May 29, 2007. The price offered to the Volkswagen shareholders amounts to €100.92 per common share and €65.54 per preferred share, which represents the minimum price required by law. Porsche does not consider a premium on the minimum price to be appropriate, as the price of Volkswagen shares has risen significantly since the Stuttgart-based sports car manufacturer took an interest in the company. The mandatory offer, which is not conditional upon attainment of a minimum acceptance level, can be found on and downloaded from the Porsche website at http://www.porsche.com/germany/about...storrelations/.

Vladi

This is such a nice spin off. Instead of VW buying out Prosche they made it somehow the other way around

Vlad_Stein

I wonder how it is going to impact Audi and Lamborghini, since they potentially overlap with some of the Porsche models from bottom and top, respectively.

Koma

iTrader: (3)

I've never heard of VW trying to buy out Porsche. I thought the owner of Porsche was the highest shareholder of VAG.

JessePS

I heard it will affect Lamborghini and Bugatti the most.

Thing that sucks, Bugatti gets back on their feet and they might be kicked out and going to start all over again

I just hope Porsche/VW keeps Bugatti though they can probably do wonderful things with that marky (?sp)