The Takeover Battle Volkswagen/Porsche: The Piëch-Porsche Clan – Family Clan Acquires a Majority Holding in Volkswagen

10 Capital Markets Law Journal 410 - 430 (2015)

22 Pages Posted: 28 Jul 2015

See all articles by Thomas M.J. Möllers

Thomas M.J. Möllers

University of Augsburg - Faculty of Law

Date Written: July 2, 2015

Abstract

Apparently, Porsche planned to take over Volkswagen (VW) — in fact, Volkswagen took over Porsche. What appeared to be a takeover, was in fact a battle for influence of the families Piëch and Porsche over Volkswagen, the biggest German enterprise. While the High Court’s decision is still pending, the takeover evolves into a thriller with a range, thus far unknown to German economic history after World War II, costing investors almost €10 billion. In spite of initial hesitation, Stuttgart’s Regional Court will initiate criminal proceedings within the next month. Evidence suggests that Porsche has planned to take over 75 per cent of VW-shares as early as 2005 which, if found to be true, would constitute an information-based market manipulation. Civil claims for damages have failed thus far. However, the chances of success will increase at the next instance.

Suggested Citation

Möllers, Thomas M.J., The Takeover Battle Volkswagen/Porsche: The Piëch-Porsche Clan – Family Clan Acquires a Majority Holding in Volkswagen (July 2, 2015). 10 Capital Markets Law Journal 410 - 430 (2015), Available at SSRN: https://ssrn.com/abstract=2636259

Thomas M.J. Möllers (Contact Author)

University of Augsburg - Faculty of Law ( email )

Germany

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