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March 27, 2007
It's not as simple as it seems - Porsche's apparent takeover bid of VW, that is, according to Forbes.com
Having just increased its stake in Volkswagen to 30.9 percent, Porsche is now going through the rigmarole of bidding for the whole company, as required by German law, says Forbes.com. But it has made the minimum offering legally allowed - $145.60 for each common share and $84 for each preferred share - so that few, if any, investors will want to sell.
"We don't think many shares will be offered to us," Porsche spokesman Frank Gaube told Forbes.com, which says the oveall plan is designed to protect VW from any hostile takeover by ensuring that Porsch and the German state of Lower Saxony effectively control just over 50 percent of the company.
Posted by 
at 3:08 PM to Companies
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At the end of the day, it is a great investment for Porsche. At the prices that they will exercise the tender, it is dirty cheap. They will be able keep VW in the family and thwart any outsiders buying VW lock stock and barrel... I guess this also means that Porsche will take over some of the Volkswagen aftermarket parts... This would be a really goodnews for the reason that this will also decrease some of its parts..
Posted by: The Car Geek on March 30, 2007 12:29 AM
My concern with Ferdinand Piech of Porsche driving the takeover of VW is that Piech's massive ego is directing these efforts.
If what's good for Piech synchs up with what's good for VW, great. If what's good for Piech is NOT what's best for VW, I believe Piech is going to pick what's best for Piech.
B Moore - Autosavant.net
Posted by: Brendan Moore on April 2, 2007 11:49 PM
Please be civil. Vicious comments, personal attacks and profanity won't be published.
