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Wednesday, July 04, 2012

ALERT: Volkswagen agrees to acquire remaining Porsche stake for $5.6 billion

BREAKING NEWS ALERT July 4, 2012
 
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Volkswagen agrees to acquire remaining Porsche stake for $5.6 billion
 Nicholas Comfort
Volkswagen AG agreed to buy the 50.1 percent stake in the Porsche SE automotive business that it doesn't already own for $5.6 billion (4.46 billion euros). The merger plan allows for a combination of the automotive businesses in August, two years earlier than would have been "economically feasible" under a put-and-call option provided for in a deal reached in 2009, Volkswagen said Wednesday in a statement.
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