MAN eyes Scania to take lead in truck sector
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German industrial conglomerate MAN has sent signals that it might be looking to tie the knot with Swedish group Scania with a view to becoming Europe's biggest truck maker ahead of DaimlerChrysler and Volvo.
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Swedish truckmaker Scania AB on Friday formally rejected a 10.3 billion euro ($13.3 billion) takeover bid by German rival MAN AG, saying the offer was too low.
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Ford Motor Co F.N Chief Executive   Bill Ford Jr is prepared to let someone else lead the carmaker   his great-grandfather founded should the right manager be   available, he said in a magazine interview.
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Swedish truck maker Scania on Friday stood by its rejection of German rival MAN's hostile bid, as it raised the prospect of further extra shareholder payouts and warned of job losses in Sweden.
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Swedish truck maker Scania on Friday  stood by its rejection of German rival MAN's hostile bid, as it  raised the prospect of further extra shareholder payouts and  warned of job losses in Sweden.
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STUTTGART, Germany  - DaimlerChrysler's  market-leading trucks business will make an operating profit this year despite a sharp U.S. market contraction, division head Andreas Renschler told reporters on Friday.
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Germany's MAN AG is preparing a more   attractive offer for Swedish truck maker Scania, the Wall   Street Journal on Friday quoted MAN Chief Executive Hakan   Samuelsson as saying.
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German truckmaker MAN  said on Thursday it would not reduce production staff should it successfully acquire Swedish rival Scania  in its 10.3 billion euro ($13.4 billion) hostile bid.
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DaimlerChrysler's (DCXGn.DE)  market-leading trucks business will make an operating profit  this year despite a sharp U.S. market contraction, division  head Andreas Renschler told reporters on Friday.
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Germany's MAN AG  will soon raise its bid for truck maker Scania , a Swedish newspaper said on Thursday, citing unnamed sources.
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Volkswagen AG said Tuesday it has increased its stake in German truckmaker MAN AG to nearly 30 percent, a move that would give it a better say in guiding the company toward a friendly alliance with Swedish truckmaker Scania AB.
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Scania AB rejected a 9.6 billion euro ($12.2 billion) takeover offer from Germany's MAN AG on Monday, while one of the Swedish truckmaker's primary shareholders said the offer did not reflect the company's true value.
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Swedish truckmaker Scania announced Wednesday robust earnings for the fourth quarter and full-year 2007 boosted by strong demand in most markets, and forecast a smooth ride for 2008 and 2009.
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Rumours persist that Swedish truckmaker Scania is poised to make a counter-bid for its German predator MAN, a move analysts say Scania would be capable of but which might be part of an elaborate bluff.
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Volkswagen is to buy a 15% share of  truck firm MAN, as it seeks to create a three-way alliance in the industry.
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An executive at Scania ,  object of an unsolicited bid from Germany's MAN, has rejected  market speculation that Scania may be too small to remain  independent and successful over the long term.
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Swedish truckmaker Scania's chief executive Leif Oestling said no decision had been taken on a possible counter-offer for German suitor MAN after its hostile takeover bid.