Editor's note: This story is part of the WardsAuto digital archive, which may include content that was first published in print, or in different web layouts.
A European Commission decision clears the way for Germany-based MAN AG’s planned acquisition of Scania AB, its Sweden-based competitor.
Though a merger would combine Europe’s two largest truck and bus manufacturers, EC Competition Commissioner Neelle Kroes says: “The proposed transaction would not significantly impede effective competition.”
The new entity would, Kroes adds, still face strong competition from a number of other important manufacturers such as DaimlerChrysler AG, Volvo AB, Iveco SpA and DAF Trucks N.V.
The proposed €10.3 billion ($13.6 billion) deal, which faces a Jan. 31 deadline, still must be approved by Volkswagen AG, a major Scania shareholder.
