Deals
VW Gets MAN Majority, Nears Goal of Combining Truck Units
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Volkswagen AG moved closer to its goal of unseating Daimler AG as Europe’s largest truckmaker by securing a majority in MAN SE after more shareholders than expected took advantage of a takeover offer.
Europe’s largest carmaker will own 55.9 percent of MAN’s voting rights after the deal closes, the Wolfsburg, Germany-based company said today in a statement. VW sought 40 percent of voting rights in May when it started the bid.