By Marcus Leach
German car manufacturers Volkswagen have announced that they have acquired a 56% majority stake in the German heavy truck maker MAN.
The acquisition is a result of a mandatory offer for MAN shares on the Frankfurt stock exchange, and adds the firm to Volkswagen's other truck business, Swedish firm Scania.
Volkswagen chief executive Martin Winterkorn said that the firm will now seek "synergies between MAN, Scania and Volkswagen."
"Volkswagen is more than pleased with the result," he added.
The synergies are expected to save in the region of €200 million (£290 million) via joint purchases for MAN and Scania. Not only that but it is believed it will create a firm big enough to take on Europe's other leading truck manufacturers.
"The cooperation with Volkswagen and Scania now enters a new, offensive stage," said a spokesman for MAN, who welcomed the takeover.
Join us on