NewsDJ MARKET TALK: Scania Seen Turning Hunter If MAN Talks Fail
11/15/06 - Dow Jones Newswires
1053 GMT [Dow Jones] The failure of talks between MAN (MAN.XE) and Scania (SCV-A.SK) would increase the likelihood of a counter bid for MAN by Scania, says HVB. Says Volkswagen (VOW.XE) has made clear on several occasions it would take whatever measures necessary to ensure that the companies come together given the strong industrial logic. HVB believes the most logical outcome of a combined company is a takeover of MAN by Scania. However the complete failure of any deal to emerge would return MAN's fair value to around EUR63, the bank says. Both Investor and Scania have said they don't rule out a counter bid on MAN. HVB keeps outperform rating on MAN shares, target price at EUR80. Shares +1.1% at EUR70.59. Scania shares -3% at SEK468.5.(HAD)
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(END) Dow Jones Newswires
November 15, 2006 05:53 ET (10:53 GMT)
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