VW's Traton Proposes Squeeze Out to Gain Full Control of MAN
By Giulia Petroni
Traton SE said Saturday that it is prepared to pay 70.68 euros
($85.96) a share to squeeze out minority shareholders of
truck-and-bus manufacturer MAN SE.
The Volkswagen AG-subsidiary said the request has been submitted
to MAN's executive board and the offer is being reviewed by a
court-appointed auditor. MAN shares closed at EUR55.50 on
Traton currently owns 94.36% of MAN's share capital.
The merger agreement is set to conclude on May 14. MAN's annual
general meeting, which is to adopt a resolution to transfer the
shares held by minority shareholders to Traton, is scheduled to
take place on June 29.
Write to Giulia Petroni at firstname.lastname@example.org
(END) Dow Jones Newswires
May 10, 2021 01:39 ET (05:39 GMT)
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