Scania Rejects Truckmaker MAN's EU9.6 Billion Offer
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Scania AB, Sweden's second-biggest truckmaker, rejected a 9.6 billion-euro ($12.1 billion) takeover offer from German commercial-vehicles manufacturer MAN AG as Scania's two largest shareholders called the bid unsatisfactory.
Shares of Scania rose 5.9 percent after the board said it ``unanimously decided not to support the proposal,'' prompting speculation that MAN will increase the offer. MAN bid 48 euros, or 442 kronor, in cash and stock for each share of Scania, the Munich-based company said today.