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Porsche, VW to Merge

Luxury maker fails in takeover attempt

By Jason Farago, Newser Staff

Posted May 7, 2009 4:53 AM CDT

(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.

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)

An unsold 2009 Jetta sedan at a Volkswagen dealership in Golden, Colo., Lakewood, Colorado. (AP Photo/David Zalubowski, File)

The company's logo of German car manufacturer Porsche is seen with raindrops on a Porsche 911 at the Porsche Holding GmbH in Salzburg, Austria, yesterday. (AP Photo/Kerstin Joensson)

Porsche will merge with Volskwagen after an attempted takeover fell short. (AP Photo/Kerstin Joensson)

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Porsche, VW to Merge

Luxury maker fails in takeover attempt

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Luxury maker fails in takeover attempt

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OTHER STORIES ON OUR RADAR

Germany • merger • Volkswagen • auto industry • Porsche • VW Group • Lower Saxony

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

GM Reclaims World's No.1 Spot

2011 disasters knock Toyota into 3rd place

Bentley Planning $140K SUV

2011 brought company first profit in years

Car Sales Jumped 14% Last Month

Chrysler, VW saw huge gains

Volkswagen Steers Toward US

New Jetta part of push for American market

GM Won't Sell Opel After All

European operations won't go to Canadian outfit

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?