Pursuits
Porsche Plunges After Saying Share Probe May Delay VW Merger
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Porsche SE’s planned merger with Volkswagen AG will probably be delayed into next year because of German legal obstacles. Porsche plunged the most in 19 months.
An investigation into share-price manipulation allegations will likely push the deal’s completion into 2012, Porsche said. Stuttgart prosecutors said today their probe has “solidified” suspicions Porsche didn’t adequately inform the market between 2007 and 2009 about its intentions to take control of VW.