Porsche gets green light for lowball VW bid

Newswire

FRANKFURT, April 30 (Reuters) - German sports car maker Porsche got official approval from German regulators to launch a takeover offer for Volkswagen , in which it is already the bigest shareholder, Porsche said on Monday. It will offer 100.92 euros for each Volkswagen ordinary share and 65.54 euros per preference share , Porsche said, both prices below the current market price. The offer runs until May 29.

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