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Daimler Says It Won’t Spin Off Truck Unit
Chief Financial Officer Bodo Uebber tells reporters that Daimler AG has no intention of spinning off its truck unit in the foreseeable future.
"We want one Daimler," Uebber declares, saying the car and truck businesses share hybrid systems and other technologies and collaborate on entering emerging markets.
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Chief Financial Officer Bodo Uebber tells reporters that Daimler AG has no intention of spinning off its truck unit in the foreseeable future.
"We want one Daimler," Uebber declares, saying the car and truck businesses share hybrid systems and other technologies and collaborate on entering emerging markets.
He denies Daimler is a takeover target. Buyout speculation heated up when Manager Magazin reported last month that the Abu Dhabi's Aabar Investments PJS wants to sell its remaining 3% Daimler stake. Until recently, Aabar owned 9.1%. Unlike rivals BMW and Volkswagen, Daimler has no controlling family shareholders to block a hostile takeover.
Uebber also dismisses news reports saying Daimler has set up a so-called "poison pill" to defend against hostile takeovers. He says the company would "never" adopt such a tactic.
Uebber describes Daimler's change-of-control disclosure last week as routine. The company reported that that some of its credit lines and partnerships with other automakers and suppliers could be terminated if it became a takeover target.
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