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MAN withdraws its offer for Scania

Given that major shareholders of Scania AB (“Scania”) have stated that they are not prepared to accept the public offer of MAN Aktiengesellschaft (“MAN”) to the shareholders in Scania as announced on 18 September 2006 and as supplemented from time to time thereafter (the “Offer”) and it is clear that MAN’s condition for the Offer to acquire more than 90% of the total number of shares and votes in Scania cannot be met MAN has decided to withdraw the Offer.Following clearance by the Swedish Securities Council, MAN hereby an-nounces that MAN withdraws the Offer.

MAN welcomes EU decision as key milestone in favor of a combination with Scania

The European Commission has announced today that it has cleared the intended acquisition by MAN AG of a majority in Scania AB without conditions. After a thorough examination of the market, the Commission concluded that the concentration does not raise any competition concerns within the European Economic Area. MAN welcomes the EU’s decision. This means that the significant official approvals required for combining MAN and Scania have now been given.Håkan Samuelsson, MAN CEO: “This favorable decision on the part of the EU is a decisive signal and a clear endorsement of our project of

MAN extends consortium for the financing of the combination with Scania AB

MAN AG has signed a contract with a banking consortium under the leadership of Citigroup Global Markets Ltd, The Royal Bank of Scotland plc, Bayern LB, West LB AG and Handelsbanken Capital Markets for a syndicated credit of € 11 billion. This will serve to support MAN’s offer for a complete take-over of the shares of the Swedish truck producer Scania AB.Citigroup and The Royal Bank of Scotland acted as bookrunners. Besides the leading banks of the consortium a further 24 international banks are now providing MAN with financial resources. The facility comprises three tranches of one year,

MAN extends acceptance period for Scania offer until 31 January 2007

MAN AG decided to extend the acceptance period for its Offer to the shareholders of Scania AB until 31 January 2007.The extension of the acceptance period beyond the initial date of 11 December 2006 has become necessary since the European Commission extended the date for a decision on its anti-trust review (Phase 1) of MAN's proposed combination with Scania from 6 December until 20 December 2006. This date is immediately prior to the Christmas and New Year holiday season. All other terms and conditions stated in the Offer Document apply to the Offer.MAN continues to reserve the right to

MAN welcomes the Swedish Securities Council’s ruling – No amendment to the terms of the Offer required

In its ruling, the Swedish Securities Council has concluded that no changes to the terms of the Offer are required. The Swedish Securities Council did not support the claim by the Scania board that the value of the cash alternative offered by MAN does not reflect the highest price paid by MAN for Scania shares in the market“It has always been clear that the terms in the Offer are consistent with the requirements and rules on the Swedish stock market. We are very pleased with the statement from the Securities Council, even though it was expected”, says Håkan Samuelsson CEO of MAN.The

MAN Notes Today’s Statement by the Competition Commission

MAN notes that the European Competition Commission has today extended the date for a decision on its anti trust review of MAN’s proposed acquisition of Scania from 6th December to 20th December.MAN welcomes this development which implies that a Phase 1 clearance is still possible prior to the end of the year.MAN is reviewing the implications of this change with a view to an extension of the acceptance deadline for its offer particularly given the proximity of this new date to the Christmas and New Year holiday season and in light of its ongoing discussion with the parties. MAN will make a

Combination of MAN and Scania is the best way to protect and create employment in Sweden and Germany

 No production job cuts resulting from this combination MAN will not support an industrial governance focused on cross-subsidiesFollowing certain public discussions in Sweden about risks to Swedish jobs, MAN would like to clarify its industrial position regarding the proposed combination with Scania. This has also been communicated directly to Scania union officials.Håkan Samuelsson CEO of MAN AG:‘There will be no production jobs lost as a result of this combination. We have initiated the combination because we believe that a pooling of two strong groups with similar values, but

MAN has published Scania Offer Document – next step towards European truck champion

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, ITALY, JAPAN OR ANY OTHER RESTRICTED JURISDICTION. Widespread support for industrial concept Combination of two strong management teams is decisive for successful integration Combination is the best way to safeguard employment in Sweden and Germany The acceptance period for the Offer will commence on 20 November 2006 and will end on 11 December 2006 A decision by the EU Commission is expected on 6 December 2006MAN AG has today published the Offer Document related

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