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Daimler, Rolls-Royce Secure 94% of Tognum in Takeover Offer

Daimler AG and Rolls-Royce Group Plc secured 94 percent of Tognum AG after a sweetened bid attracted investors to the offer that values the German engine maker at about 3.4 billion euros ($4.8 billion).

A total of 123.7 million shares were tendered in the offer that ended on June 20, Stuttgart, Germany-based Daimler said today in a statement. Daimler and Rolls-Royce will probably complete the transaction in the third quarter after regulatory clearance, it said.