EU Likely to Nix Merger Of Swedish Truck Makers
The $5.9-billion merger of Swedish truck makers Volvo and Scania may be dead, Bloomberg News reported last week.
According to Bloomberg, concessions offered by Volvo failed to appease antitrust concerns held by the European Commission.
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The European Union’s regulatory panel has recommended against the merger. News of the decision, which is expected to be officially announced March 14, set off an 11.5% plunge in the trading price of shares of Scania stock and spurred widespread speculation that the companies would seek other partners with which to merge.
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While the official deadline for concessions has passed, talks have continued between the commission and the companies.
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