MAN Confirms Interest in Scania

German truckmaker MAN has confirmed it is interested in taking over Swedish rival Scania. MAN said the rationale for a takeover – which would result in the creation of a European market leading company – was “compelling”. Analysts estimate that any potential deal might be worth as much as 12 billion euros, (£8.1 billion).

“Together MAN and Scania would become Europe’s leading truck business, creating a platform for profitable growth,” a MAN statement added, saying a further statement would be issued next week. MAN is currently the third-largest truckmaker in Europe. Scania holds fourth place.