Berlin: Merger is good to solve any problem for most companies which it has any lack of profesionalism and mismanagement if they still want to survive among tough competition. Sooner or later they must keep solving to save any property belonged by them and if it's too late, the must accept consequences by closing their companies forever.
An amalgamation or merger of the German car manufacturer of Porsche and Volkswagen will not be completed in 2011 as planned. But both companies on Thursday (8 / 9) said they still intend to make the connection.
merger of Porsche and Volkswagen will not be over yet in 2011 as planned
Volkswagen said the Board of both companies concluded that the merger can not be implemented within the timeframe provided. The reason, the legal proceedings against a Porsche in Germany and the United States for alleged market manipulation.
Volkswagen said the current legal process is not possible to quantify the economic risk of the merger. So as to perform appraisal Porsche SE required determination of exchange ratios.
"Nevertheless, all parties remain committed to the goal of creating an integrated automotive group with Porsche and is confident that this will last," he added.
Luxury sports car company Porsche automobile manufacturing shocked the world in October 2008 when it announced that it had acquired 75 percent of Volkswagen.
But the takeover move backfired against the backdrop of financial crisis because of a Porsche won nine billion euros of debt in the acquisition of a controlling stake in Europe's biggest carmaker, and the Volkswagen-saving sports car company.
But their merger plans have been prevented lawsuits by investors against the 911 sports car makers because they allegedly caused losses of several billion dollars as a result of the misleading comments about Porsche's intentions to take over VW.
