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Volkswagen hits back.(NEWS)
Byline: GREG KABLE
Volkswagen is eyeing an audacious reverse takeover bid for its majority shareholder, Porsche, in a remarkable twist in the drawn-out struggle for control between the two German carmakers.
VW's supervisory board reportedly is weighing the possibility of purchasing Porsche AG, in a move that would relieve its holding company, Porsche SE, of massive debt that industry analysts suggest may become unserviceable should the world financial crisis drag on well into 2010.
VW's secret plan emerged as shareholders were set to convene at its recent annual meeting and comes after Porsche revealed that it is carrying $12 billion in debt, ...
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- Magazine article from: Automotive News Europe November 24, 2008 700+ words
...company that holds the family's Porsche and VW shareholdings? Who should run...the combined company? How will Porsche and VW's premium-car subsidiary...will mean success or failure for Porsche's VW bid. It's hard to say who is...
- VW-Porsche fight risks growth plans; Piech and Wiedeking are at the center of a...
- Magazine article from: Automotive News Europe September 29, 2008 700+ words
...sorts of cooperation between VW and Porsche," said Jurgen Pieper, head...the holding company for the Porsche sports car maker and for VW group. And there's Wiedeking...automaker, a protege of Wolfgang Porsche and a VW group supervisory board member...
- Porsche stock purchase would weld it to VW; Bid would expand development ties...
- Magazine article from: Automotive News Europe Meiners, Jens October 3, 2005 700+ words
...HypoVereinsbank in Munich, said VW and Porsche will expand their business relationship...from the Beetle. * In the 1970s, Porsche, VW and VW subsidiary Audi shared sales...was even a common vehicle, the VW/Porsche 914, available with either VW...
- Porsche CEO Wiedeking on VW: 'We care about our investment'; CEO says Porsche...
- Magazine article from: Automotive News Europe February 4, 2008 700+ words
...company that will control the Porsche family's stake in VW group, Wiedeking, who also...As an example of the tighter VW-Porsche relationship, Wiedeking explained...success of this model is the Porsche Cayenne, VW Touareg and Audi Q7. The strong...
- VW plans to buy Porsche retail operation.(Volkswagen)(Porsche Holding GmbH)
- Magazine article from: Automotive News August 24, 2009 700+ words
...company controlled by the Piech and Porsche families. VW plans to acquire the Austrian...integrated automotive company" that VW and Porsche want to build "under Volkswagen...expected in the course of the VW-Porsche merger. VW brand chief Christian...
- Porsche, VW meet amid dueling plans for takeovers
- News wire article from: AP Online July 23, 2009 700+ words
...Holding SE, the company that owns Porsche AG. VW and Piech are pushing a deal that...resisting VW's advances. Neither Porsche nor VW will comment about Thursday's...failed attempt to take control of VW. "Porsche's management team go into this...
- As opposites try to merge, problems abound; Different VW, Porsche cultures...
- Magazine article from: Automotive News Europe November 24, 2008 700+ words
...battled over a range of issues. VW tried to restrict Porsche's access to technology from its Audi premium brand. And Porsche's request for VW diesels for its Cayenne premium...enough common ground in the VW-Porsche project."
- Bloody squabble produces a bigger VW; Family spat ends with firing of Porsche...
- Magazine article from: Automotive News July 27, 2009 700+ words
...stake required for full control of VW, Porsche Automobil Holding SE ran out of...buy the financially overleveraged Porsche. VW Group, the third-largest automaker...heavy trucks. A framework for a Porsche-VW alliance is scheduled to be complete...