Porsche to affect full takeover of VAG

[Fogelhund]

Porsche's takeover bid was triggered after it increased its shareholding in Volkswagen ordinary shares to 30.94 percent -- over the 30 percent threshold that prompts a full takeover bid under German law.

more HERE

Given the Sportscar Racing implications, I thought this was worthy of discussion here.

[HORNDAWG]

Originally Posted by Fogelhund

more HERE

Given the Sportscar Racing implications, I thought this was worthy of discussion here.

Well business wise IMO it would make the best sense for Porsche to go to just customer mode in P-2 with the Spyder! And then turn the Audi into a customer car for P-1 with a works team also. ???


L.P.

[GTRMagic]

The way it was reportted here, the offer price was ~10-15% off the current market price... so its a toothless takeover... and wont fully execute unless the market price falls and/or investors are happy to see to Porsche at less than they could get on the general exchange

[chewymonster]

The situation is a bit confusing to me, but it looks like Porsche is only required to make an attempt at full purchase and doesn't actually have to or will. Am I right?

[GTRMagic]

It can make an offer with no end date and no success criteria is my understanding

[The Real DMN]

Porsche have been saying all along, they do not want full control.

Even though they have to make a bid by law, they have led the press to belive they will offer below the asking price to ensure the bid is not accepted.

The BBC said:

Under German law, Porsche will have to bid for all of VW when its stake goes above 30%, but it has moved to ensure most VW shareholders turn it down.

Full story here:
http://news.bbc.co.uk/1/hi/business/6492715.stm?ls

[chewymonster]

That is what I thought.

[ss_collins]

Family politics...

Look at who owns VAG, I think its 30% Porsche, 30% local government and 30% Porsche family...