Germany's MAN says to drop hostile bid for Scania

Newswire

FRANKFURT, Jan 23 (Reuters) - German truckmaker MAN will withdraw its hostile bid for rival Scania worth more than 10 billion euros ($13.0 billion) and enter into further discussions this year to bring about a friendly deal, it said on Tuesday. It reaffirmed its view that a tie up between the two firms that would create Europe's truck market leader is backed by industrial logic. "It is however not possible to achieve such a combination by way of the current offer by MAN for Scania which ...

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