Tuesday, March 17, 2009

Quandt Family nixes BMW and Daimler 7% share swapping deal


Germany’s Der Spiegel first reported today that Daimler and BMW would acquire a 7% stake in each other, but now the same newspaper is reporting that the Quandt family, BMW’s biggest shareholder with a 46% controlling stake, has quashed the deal over fears Daimler may attempt a takeover.
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Other article:
BMW to Enter Small Petrol Turbo Engine Fray
Final Current-Generation BMW Z4 Rolls off Production Line

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