Tuesday, March 17, 2009

Quandt Family nixes BMW and Daimler 7% share swapping deal


Germany�s Der Spiegel first reported today that Daimler and BMW would acquire a 7% stake in each other, but now the same newspaper is reporting that the Quandt family, BMW�s biggest shareholder with a 46% controlling stake, has quashed the deal over fears Daimler may attempt a takeover.
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