VW, Porsche Merger Dead (VLKAY, POAHY)
The long-delayed merger between Volkswagen AG (OTC: VLKAY) and Porsche Automobile Holding SE (OTC: POAHY) has finally been put out of its misery. The two companies have called off the deal as shareholder claims against Porsche have risen to around…
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The long-delayed merger between Volkswagen AG (OTC: VLKAY) and Porsche Automobile Holding SE (OTC: POAHY) has finally been put out of its misery. The two companies have called off the deal as shareholder claims against Porsche have risen to around $2.6 billion for its abortive attempt to take over Volkswagen in 2008.
Volkswagen still expects to exercise its option to purchase the 50.1% of Porsche’s sports car unit, known as Porsche AG, which is not listed on any stock exchange.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
