The Board of Scania criticises MAN’s offer

The Board of Directors of Scania notes that MAN’s All Cash Alternative is currently worth SEK 464 per share*. This is a lower price than we understand was the highest SEK equivalent price paid by MAN to acquire Scania shares in the market, which was the basis for the modified offer.
Furthermore, the Board of Directors notes that the terms of MAN’s offer as represented in the offer document are substantially the same as those published by MAN on 12 October. However, MAN has omitted to include in the document that the Board of Directors of Scania rejected the offer on 12 October.
Scania will raise both of the above issues with the Swedish Securities Council.

The Board of Directors will finalise its review and revert with a full response and reasoned statement to MAN’s offer in due course.

* Using the SEK/EURO exchange rate of 9.0490, derived from WM/Reuters as of 16:00 (London time) 16 November 2006


For further information, please contact Cecilia Edström, Senior Vice President, Corporate Relations, telephone +46 70 588 35 57

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Scania is a world-leading provider of transport solutions. Together with our partners and customers we are driving the shift towards a sustainable transport system. In 2016, we delivered 73,100 trucks, 8,300 buses as well as 7,800 industrial and marine engines to our customers. Net sales totalled nearlySEK 104 billion, of which about 20 percent were services-related. Founded in 1891, Scania now operates in more than 100 countries and employs some 46,000 people. Research and development are concentrated in Sweden, with branches in Brazil and India. Production takes place in Europe, Latin America and Asia, with regional production centres in Africa, Asia and Eurasia. Scania is part ofVolkswagen Truck & Bus GmbH. For more information visit www.scania.com.

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