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 forging a new European champion through the combination of MAN and Scania. We have the go-ahead from all authorities in the European Union—and it’s now up to Scania’s shareholders. We are confident that the intended combination will materialize. An extension of the Offer Period beyond January 31, 2007 is not planned.”