Volvo poised for Nissan Diesel takeover

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Volvo has bid £211.5m to buy Japanese truck manufacturer Nissan Diesel.

Volvo already owns 19 per cent of the business and the offer is supported by Nissan’s board of directors.

Volvo’s chief executive Leif Johansson said that Nissan holds a strong position in the Japanese and Asian market, an area it predicts will see substantial growth in the future.

The offer is dependent on approval from anti-trust authorities.

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