Independent committee in Scania evaluates the offer by Volkswagen
ET | Source:SCANIA AB
On 21 February 2014, Volkswagen Aktiengesellschaft announced a public takeover
offer to the shareholders in Scania to tender all of their shares in Scania to
Volkswagen for a cash consideration of SEK 200 per share.
At an extraordinary board meeting in Scania the board of Scania – excluding
Martin Winterkorn, Hans Dieter Pötsch, Francisco J. Garcia Sanz, Leif Östling
and Ferdinand K. Piëch – has decided to appoint an independent committee,
consisting of the board members Åsa Thunman (chairman of the committee), Peter
Wallenberg Jr, Peter Abele, Johan Järvklo and Håkan Thurfjell to evaluate the
offer and to take such resolutions in relation to the offer as are necessary.
The independent committee will announce its opinion of the offer, including the
reasons for the opinion, and valuation opinions – fairness opinions – from
independent experts not later than two weeks before the expiry of the acceptance
The independent committee has appointed advisers of its own for legal, financial
and communication issues.
For further information, please call the committee’s press contact, tel
+46 729 299 450.
Scania is one of the world’s leading manufacturers of trucks and buses for heavy
transport applications, and of industrial and marine engines. Service-related
products account for a growing proportion of the company’s operations, assuring
Scania customers of cost-effective transport solutions and maximum uptime Scania
also offers financial services. Employing some 41,000 people, the company
operates in about 100 countries. Research and development activities are
concentrated in Sweden, while production takes place in Europe and South
America, with facilities for global interchange of both components and complete
vehicles. In 2013, net sales totalled SEK 86.8 billion and net income amounted
to SEK 6.2 billion. Scania press releases are available on
GlobeNewswire, a Nasdaq company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.