Scania board rejects latest bid from IVAN
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IN THE LATEST twist in the takeover saga. Scania has told shareholders to reject MAN's renewed takeover offer while MAN has given assurances to Scania's staff over job security Scania's board of directors still feels the MAN offer undervalues the Swedish company; it believes that MAN underestimates the potential for long-term synergies.
MAN, on the other hand, is rejecting claims by unions at Scania that production jobs would he lost in the merger.