Daimler – the next big takeover?
Mercedes’ parent, the conglomerate known as Daimler, may be ripe for a takeover. The company has lost 45 percent of its value this year, which makes a target for a hostile takeover. But the German auto company is not taking this lying down, and it is taking steps to fight off any prospective wolves. It is reported to be looking for an “anchor investor” to block perspective invaders.
Unlike Volkswagen, there is no law in place to stop any company from acquiring over 20 percent of Daimler’s publicly traded shares and the voting rights that go with them. Daimler realized its own vulnerability when German ball-bearings manufacturer, Schaeffler Group, made a shock takeover last month for auto supplier Continental, gaining 36 percent of its shares without telling the authorities.
Source: Leftlane News