MAN courts Investor with Scania board role

MAN AG wants to offer Scania AB shareholder Investor AB a supervisory board seat, in the event of MAN taking over the Swedish truck maker, MAN CEO Håkan Samuelsson told daily Welt am Sonntag.

“It would be sensible if Investor representatives hold seats on the supervisory and other important boards,” Samuelsson said.

“We would like to maintain Investor as a major shareholder of the joint company,” he added.

Samuelsson ruled out the possibility of extending MAN’s 10.3 billion euro cash and share takeover offer for Scania.

“That’s it on 31 January: either shareholders will accept the offer then or they won’t,” he said.

He added that “at the moment” MAN is not planning to raise its bid.

Samuelsson added that, should the takeover be successful, he plans to raise Scania’s and MAN’s joint global market share from 5.5 percent currently to 10 percent within the next ten years.