Porsche Submits Offer to Purchase Volkswagen AG

Discussion in 'OT Driven' started by TriShield, Apr 30, 2007.

  1. TriShield

    TriShield Super Moderator® Super Moderator

    Joined:
    Jul 6, 2001
    Messages:
    132,732
    Likes Received:
    1,593
    Location:
    PRESIDENTIAL TOWER, GREAT AGAIN, NY
    If it goes through that will make Porsche Europe's largest automaker, and one of the largest in the world.

    :run:
     
  2. avenger

    avenger grammar and cereal nazi

    Joined:
    May 6, 2001
    Messages:
    42,775
    Likes Received:
    0
    Location:
    SF Bay Area
    wait i thought VAG owned porsche?
     
  3. Achmiel

    Achmiel Why do we feel it's necessary to yak about bullshi

    Joined:
    Dec 27, 2001
    Messages:
    42,215
    Likes Received:
    13
    Location:
    Cruisin' in the ATL
    And they'll stay independent? :noes:

    Not too sure about this :dunno:
     
  4. nerfball

    nerfball New Member

    Joined:
    Aug 5, 2002
    Messages:
    19,725
    Likes Received:
    0
    interesting...
     
  5. Ruiner

    Ruiner Evil Inside

    Joined:
    May 5, 2000
    Messages:
    134,896
    Likes Received:
    191
    Location:
    Georgia
    :rofl: No. Porsche is 100% independent.
     
  6. MrBonus

    MrBonus Et Tu, Brute?

    Joined:
    Sep 29, 2001
    Messages:
    188,521
    Likes Received:
    123
    No.
     
  7. jaydub

    jaydub Every calling is great when greatly pursued.

    Joined:
    Mar 14, 2000
    Messages:
    88,366
    Likes Received:
    0
    Seriously I don't even know where this belief came from :rofl:

    They've had some partnerships but no ownership
     
  8. King of No Pants

    King of No Pants aww yankee puppy aww

    Joined:
    Jul 6, 2003
    Messages:
    42,939
    Likes Received:
    0
    Location:
    Maine
    im not sure how i feel about this

    on the one hand im sure audi would get some nice turboed engines

    but on the other hand they might fire all audi / vw designers and not change the design of any of their cars for the next 30 years
     
  9. TriShield

    TriShield Super Moderator® Super Moderator

    Joined:
    Jul 6, 2001
    Messages:
    132,732
    Likes Received:
    1,593
    Location:
    PRESIDENTIAL TOWER, GREAT AGAIN, NY
    FRANKFURT (AFP) - Porsche, the German maker of luxury sports cars, said Monday it had launched an official bid to acquire Volkswagen, Europe's largest auto manufacturer.

    Stuttgart-based Porsche announced in late March that it would exercise an option to buy an additional 3.6-percent stake in VW.

    The additional shares raised Porsche's interest in VW to 30.9 percent, effectively obliging it under German law to launch a public takeover for all outstanding VW shares.

    Under an offer to run until May 29 Porsche said it would propose 100.92 euros per ordinary share, which is well below VW's current share price of around 112 euros, and 65.54 euros for priority dividend shares.

    Analysts have predicted that few shareholders were likely to take up Porsche's offer, adding that Porsche in effect has no intention of buying all of VW's share capital just yet.

    They see the move as a clever way for Porsche to increase its stature in VW without being forced to pay for any additional shares.

    [​IMG]
     
  10. yer mom

    yer mom Pelvic THRUST

    Joined:
    Oct 18, 2002
    Messages:
    72,082
    Likes Received:
    0
    Location:
    West Hartford, CT.
    It can only help VAG.
     
  11. Ruiner

    Ruiner Evil Inside

    Joined:
    May 5, 2000
    Messages:
    134,896
    Likes Received:
    191
    Location:
    Georgia
    Internet rumors spread like the AIDS virus in Africa.
     
  12. King of No Pants

    King of No Pants aww yankee puppy aww

    Joined:
    Jul 6, 2003
    Messages:
    42,939
    Likes Received:
    0
    Location:
    Maine
    wtf thats NEVER going to happen
     
  13. jaydub

    jaydub Every calling is great when greatly pursued.

    Joined:
    Mar 14, 2000
    Messages:
    88,366
    Likes Received:
    0
    Porsche also can help you GET some VAG.
     
  14. Ruiner

    Ruiner Evil Inside

    Joined:
    May 5, 2000
    Messages:
    134,896
    Likes Received:
    191
    Location:
    Georgia
    Porsche's stake in Volkswagen goes to 31%
    Posted 5h 51m ago

    BERLIN (AP) — Germany's financial regulators have approved automaker Porsche's required takeover offer for Volkswagen, which it was obligated to make after acquiring more than 30% in the company, Porsche said Monday.
    Porsche has said it doesn't plan to acquire Volkswagen outright.

    According to a document on Porsche's website, it has improved its offer for preferred shares to 65.54 euros ($89.42) each from 65.45 euros. It is still offering 100.92 euros ($137.69) per ordinary share, which is more than 11% below the current market price.

    Porsche triggered the mandatory takeover offer by raising its stake in Volkswagen higher than 30% — a move aimed at shielding the automaker from the possibility of a foreign takeover.

    The offer gives the company the chance to buy Volkswagen shares without making another takeover bid.

    A German law that limits Volkswagen shareholder voting rights to a maximum of 20%, no matter how many shares are held, is expected to be ruled unlawful by the European Union. That ruling would have left VW exposed to takeover attempts.

    But with Porsche now holding 31% of the company and the German state of Lower Saxony a near-20 stake, the carmaker is now shielded.

    Volkswagen shares rose 0.7% in Frankfurt trading to 112.24 euros ($153.13), while Porsche shares gained 1.6% to 1,243.82 euros ($1,696.94)
     
  15. Ruiner

    Ruiner Evil Inside

    Joined:
    May 5, 2000
    Messages:
    134,896
    Likes Received:
    191
    Location:
    Georgia
    Read up... :)
     
  16. yer mom

    yer mom Pelvic THRUST

    Joined:
    Oct 18, 2002
    Messages:
    72,082
    Likes Received:
    0
    Location:
    West Hartford, CT.
    :bowdown:
     
  17. King of No Pants

    King of No Pants aww yankee puppy aww

    Joined:
    Jul 6, 2003
    Messages:
    42,939
    Likes Received:
    0
    Location:
    Maine
    According to a document on Porsche's website, it has improved its offer for preferred shares to 65.54 euros ($89.42) each from 65.45 euros. It is still offering 100.92 euros ($137.69) per ordinary share, which is more than 11% below the current market price.

    which is why its not going to happen
     
  18. MB300E87

    MB300E87 Active Member

    Joined:
    Jun 4, 2001
    Messages:
    13,089
    Likes Received:
    3
    Location:
    California
    i thought Volkswagen was WAYYYY bigger and had way more power than Porsche. Does Porsche have the assets to actually take over a company that to my mind seems bigger than even they are?
     
  19. jaydub

    jaydub Every calling is great when greatly pursued.

    Joined:
    Mar 14, 2000
    Messages:
    88,366
    Likes Received:
    0
    even shitty porsches. :o My first car was a 914 :rofl:
     
  20. Buzz Killington

    Buzz Killington nunc fortunatus sum

    Joined:
    May 6, 2001
    Messages:
    147,893
    Likes Received:
    209
    Location:
    The Residency, Lucknow
    In for 2009 Porsche 914 :x:
     
  21. jaydub

    jaydub Every calling is great when greatly pursued.

    Joined:
    Mar 14, 2000
    Messages:
    88,366
    Likes Received:
    0
    :bowdown:
     
  22. Tony Stark

    Tony Stark John McCain has an illegitimate mexican baby

    Joined:
    Jun 27, 2003
    Messages:
    40,060
    Likes Received:
    0
    probably means Porsche is going to come out with a FWD econobox
     
  23. runkle

    runkle OT Supporter

    Joined:
    Feb 22, 2005
    Messages:
    31,285
    Likes Received:
    2
    Location:
    cloud 9
  24. King of No Pants

    King of No Pants aww yankee puppy aww

    Joined:
    Jul 6, 2003
    Messages:
    42,939
    Likes Received:
    0
    Location:
    Maine
    and even if they were offering a good buyout for those share i still wouldnt sell because porsche owning VAG would totally drive up the price
     
  25. Ruiner

    Ruiner Evil Inside

    Joined:
    May 5, 2000
    Messages:
    134,896
    Likes Received:
    191
    Location:
    Georgia
    Porsche has the highest profit margin of any car company I do believe. Seriously, they make a ton off of their sales.
     

Share This Page