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Microcap & Penny Stocks : RHOMBIC CORP.(NUKE.Nasdaq BB) Daimler Benz Aerospace JV
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To: Chuca Marsh who wrote (1239)8/9/1999 6:21:00 AM
From: Chuca Marsh  Read Replies (2) of 1364
 
& THE NEW #2, D-C/INSIDE:
DaimlerChrysler AG -
WSJ says Volvo's Scania acquisition will create a new leader
DaimlerChrysler AG DCX
Shares issued 1,032,165,000 1999-08-06 close $114.25
Monday Aug 9 1999
The Wall St. Journal reports in its Monday edition that Volvo AB on Friday reached a deal to acquire rival Swedish truck maker Scania AB for 6.9 billion euros ($7.53-billion (U.S.)). The deal, which joins the world's No. 2 and No. 3 heavy truck makers, would create a new leader of the pack in Europe and a stronger No. 2 worldwide after DaimlerChrysler AG's Mercedes unit. The cash and stock deal, which values Scania at 315 kroner (35.9 euros) a share, is likely to add fuel to the automotive industry's consolidation, which is being driven by car makers' perennial struggles with overcapacity. It also resolves the fate of two key players in the global truck market following months of uncertainty after Volvo agreed last January to sell its car-making operations to Ford Motor Co. Volvo sweetened its offer considerably to the 315 kronor a share, much higher than the original 270-kronor-a-share range previously discussed. In the past year, both Scania and Volvo Trucks have flirted with a number of potential partners, though none of the would-be deals came to fruition.

(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

old url (better for printing)
Chucka-Making a point.
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