Bankruptcy

At the Checkered Flag: VW Wins Over Porsche

By mcbride

The battle between Porsche and VW has been a heated one, between distant but closely tied cousins no less.  Perhaps only those of us who remember the Ewing clan of the TV show Dallas can truly appreciate this one!  Previously blogged, Porsche tried to take over VW, failed and now VW is taking over Porsche.  It is a big deal since it leaves VW as a world wide brand with over 10 different vehicles for sale and its hopes of selling 6.4 million vehicles world wide.   ?Volkswagen, which has engineered a dramatic reverse takeover of Porsche, released full details of how the merger will shake out. It?s complex?Porsche is selling various pieces of itself, and VW is moving money around. You can read all about it here. But the important thing is that, with the Porsche takeover thwarted, VW is now free to publicize its ambition to become the world?s largest carmaker.? 

Here are two articles which deal with this ongoing corporate saga:   http://www.thebigmoney.com/blogs/shifting-gears/2009/08/17/porsche-vw-getting-hitched and more details from the official VW site: http://www.volkswagenag.com/vwag/vwcorp/info_center/en/news/2009/08/Volkswagen_Aufsichtsrat_stimmt_Grundlagenvereinbarung_fuer.html

Michael

Full post as published by Texas Lawyer Blog on August 17, 2009 (boomark / email).