Skip to: Content
Skip to: Site Navigation
Skip to: Search
MONDAY, NOVEMBER 23, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


0

Porsche, VW to Merge

Luxury maker fails in takeover attempt

Share

(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.
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.
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.
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.
Porsche will merge with Volskwagen after an attempted takeover fell short.   (AP Photo/Kerstin Joensson)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.23.09
Books Are Bad for You
11.20.09
The Health-Care Wars Have Just Begun
0 comments
VIEWING:
 
LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

26 Stories

 GM Won't Sell Opel After All 

European operations won't go to Canadian outfit

Nov 3, 09 7:47 PM CST
(Newser) - General Motors backed out today on a deal to sell Opel, its European arm, to a Canadian parts supplier and its Russian banking partners. The GM board’s move reflects an uptick in the auto business, the Financial Times reports, and will also be a blow to the German government,... More »

MORE ABOUT:
Magna International Inc. • Germany • General Motors • mergers and acquisitions • auto industry • Opel • Sberbank

 Volkswagen Rolls Out 
 Electric Beetle 

Hails new ride as 'beetle of the 21st century'

Sep 15, 09 10:13 AM CDT
(AP) - Volkswagen made a splash at the IAA autoshow, unveiling the E-Up, a fully-electric compact car that the company's hailing as the "Beetle of the 21st century," Fast Company reports. Its stats are fairly impressive, at least for an electric: the E-Up can accelerate relatively quickly and hit a... More »

MORE ABOUT:
Volkswagen • electric cars • auto industry

 Jewish Engineer Designed 
 Beetle: Historian 

Hitler ordered Porsche to replicated Josef Ganz's prototype

Sep 14, 09 5:48 PM CDT
(Newser) - Adolf Hitler took the original design for the Volkswagen Beetle from the brainchild of a Jewish engineer, the Jerusalem Post reports. Historian Paul Schilperoord claims in his forthcoming book The True History of the Beetle that a prototype Josef Ganz designed in the late '20s had many of the Beetle’... More »

MORE ABOUT:
Germany • Jews • Switzerland • Adolf Hitler • Nazi • World War II • Volkswagen • beetle • Josef Ganz • Ferdinand Porsche

26 Stories


VW shares fall 4.6% on news
Bloomberg


Business  •  World 
TwitterFollow @NewserBusiness on Twitter

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

from our news partners