MAN and Scania in merger talks
Truck makers MAN and Scania are in discussions over a possible combination of the two companies.
MAN currently owns 13 per cent of the shares in Scania. Car maker Volkswagen will play a key role in any deal as it is a shareholder in both Scania and MAN.
Scania said: “Scania and MAN have investigated different projects in the industrial area, mainly related to the commercial vehicles, which would make it possible for the two companies to profit from synergies in research and development, manufacturing and sourcing.”
Both companies referred to maintaining the unique brand values of each company, and MAN said: “Both sides are committed to maintaining the operating businesses.”
The two firms say that discussions are in early stages and the outcome will depend of legal and commercial issues.
In the summer it was reported that the two firms were studying the potential for supply chain collaboration – particularly in component supply and pre-development.
In 2006, Man launched a hostile takeover bid for Scania which valued the Swedish company at some 9.6 billion euros but this was rejected.