Porsche, VW to Merge

Luxury maker fails in takeover attempt
By Jason Farago,  Newser Staff
Posted May 7, 2009 4:53 AM CDT
VW logos of German car maker Volkswagen are ready to be assembled on a production line of the Golf VI at the Volkswagen headquarters in Wolfsburg, Germany.   (AP Photo/Fabian Bimmer, File)
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(Newser) – Porsche has announced it will merge with Volkswagen after weeks of negotiation between the two German carmakers, reports the BBC. The deal puts an end to Porsche's efforts to take over VW. Porsche already owns a majority stake in the company. While details of the merger remain unclear, VW's individual brands—including Audi, Bentley and Lamborghini—will coexist alongside Porsche. Analysts describe the merger as a climbdown for Porsche, which had originally planned to acquire a 75% stake in Volkswagen.