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View Full Version : Porsche places bid for Volkswagen AG



phaeton
03-05-2007, 09:06 AM
Stuttgart- Dr. Ing. h.c. F. Porsche AG, Stuttgart, Germany, submitted its mandatory offer to acquire shares of Volkswagen AG, Wolfsburg, Germany, on this Monday after the offer documentation was officially approved by the Federal Agency for Financial Services Supervision (BaFin) for publication. The acceptance period is limited to approximately four weeks and ends on May 29, 2007. The price offered to the Volkswagen shareholders amounts to €100.92 per common share and €65.54 per preferred share, which represents the minimum price required by law.