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VW to make takeover offer for MAN

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VW to make takeover offer for MAN

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Volkwagen will make a takeover bid for truckmaker, MAN. That comes after VW increased its holding in the company to 30.4 per cent. Under German law, a stake of 30 per cent prompts a mandatory takeover bid.

Volkswagen already controls rival truck manufacturer, Scania, and is hoping to bring down costs by increasing cooperation between the two companies.