Porsche and Volkswagen still having merger troubles
Porsche’s saga to gain control of Volkswagen continues to hit speed bumps. This latest round brings in the accountants and lawyers. As Porsche is trying to combine itself and VW into a new company called Porsche Automobil Holding, accountants need to look at Volkswagen’s assets to value the company. Now, some Volkswagen employees are accusing Porsche of looking at VW’s internal documents without informing management of its plans (almost like stealing secret info.) This is gaining enough traction that Porsche has issued a press release today to the contrary.
While all this is going on, the minority shareholder, Lower Saxony (the region of Germany where Volkswagen’s headquarters Wolfsburg is located) is threatening to block this merge by any means necessary.
This is the latest installment of what can be a confusing situation. So let’s look at the merger another way, from the trailer park point of view. Lower Saxony (daddy) has tolerated the child support, but that doesn’t mean he wants to give away his only daughter (Volkswagen) to a Hot Rod Boy (Porsche). Daddy doesn’t care how many children they’ve had together (914, 924, Touareg, Cayenne, etc.,) he still thinks his daughter is better off on her own.
Hot Rod Boy and the daughter have a tremulous relationship. The daughter owns their trailer, but Hot Rod Boy helps with the bills. Hot Rod Boy wants to marry the daughter because he thinks it’s the right thing, but she’s starting to get mad at him because he leaves his beer cans all over the trailer, slowly taking more of the place over (company stock). Hot Rod Boy and the daughter end up fighting a lot, but they make up because the daughter keeps listening to her best friend (Ferdinand Piech) who also happens to be kin to Hot Rod Boy.