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MAN Confirms Interest in Scania

(Clacton, U.K./Tyres & Accessories) German truckmaker MAN has confirmed it is interested in taking over Swedish rival Scania.

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MAN said the rationale for a takeover – which would result in the creation of a European market leading company – was “compelling.” Analysts estimate that any potential deal might be worth as much as 12 billion euros (£8.1 billion).

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“Together, MAN and Scania would become Europe’s leading truck business, creating a platform for profitable growth,” a MAN statement added, saying a further statement would be issued next week. MAN is currently the third-largest truck maker in Europe. Scania holds fourth place.

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