Volkswagen's $9.2 B offer for Scania leaves minority shareholders hesitant
The Scania company logo of the Swedish truck-maker is seen on the front grill of a truck during the IAA International Motor Show Commercial Vehicles in Hanover, northern Germany, in this Sept. 19, 2006 file picture. (AP Photo/Fabian Bimmer)
The Associated Press
Published Monday, February 24, 2014 11:15AM EST
STOCKHOLM, Sweden -- Minority shareholders of Swedish truck maker Scania say they are hesitant about Volkswagen's 6.7 billion-euro ($9.2 billion) offer to take over the rest of the company.
Swedish pension fund AP4 said in a statement Monday it will review the offer but that "it is not obvious that the price now offered is best in the long term."
Jonas Collet, spokesman for the Skandia Liv financial group, said it will not accept the bid, while bank Nordea's spokeswoman Helena Ostman said it considers it a good offer.
Europe's biggest auto manufacturer said late Friday it wants to purchase the 37.4 per cent of Scania it doesn't already own for 200 kronor ($30.62) per share. Shares in Volkswagen plunged Monday by 6.77 per cent to 187.40 euros in midday trading.