Scania: A Big Rig Brawl
Swedish heavy truckmaker Scania could be forgiven for thinking Volvo had lost interest. After negotiations between the companies broke off in late February, Volvo stayed quiet--though it hung on to the 13% stake it had acquired in its rival. Then in late April, without warning, Volvo struck again, acquiring big blocks of Scania shares and options overnight and boosting its stake to 20%. The Wallenberg family, which controls Scania through holding company Investor, counterattacked with huge swap deals that raised its voting stake in Scania to 49% from 42%.
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