By Giulia Petroni
Traton SE said Saturday that it is prepared to pay 70.68 euros ($85.96) a share to squeeze out minority shareholders of truck-and-bus manufacturer MAN SE.
The Volkswagen AG-subsidiary said the request has been submitted to MAN's executive board and the offer is being reviewed by a court-appointed auditor. MAN shares closed at EUR55.50 on Friday.
Traton currently owns 94.36% of MAN's share capital.
The merger agreement is set to conclude on May 14. MAN's annual general meeting, which is to adopt a resolution to transfer the shares held by minority shareholders to Traton, is scheduled to take place on June 29.
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