Porsche rejects VW offer to take 49 percent stake in sportscar maker

June 30th, 2009 Porsche denied credit demand, Qatar eyes stakeSTUTTGART, Germany — Porsche said Tuesday that a state-owned German development bank has rejected its application for euro1.75 billion ($2.46 billion) in credit, but that a Qatar investment fund has offered to buy a stake in the sports car maker. Porsche Automobil Holding SE said the KfW bank had rejected the application.

July 11th, 2009 Report: Volkswagen raises bid for PorscheSTUTTGART, Germany — Volkswagen AG has increased its offer to take a 49.9 percent stake in troubled sports car maker Porsche to more than euro4 billion ($5.56 billion), according to a media report Saturday. German weekly Der Spiegel reported the latest VW offer reflected an increase of roughly euro1 billion ($1.39 billion), as compared to a previous bid that was rejected by Stuttgart-based Porsche.

July 18th, 2009 Report: Porsche near deal with VWFRANKFURT — The struggle over control of Porsche, the heavily leveraged maker of world-class sports cars including the 911, appears to be coming to an end, according to media reports. The German weekly news magazine Der Spiegel reported on its Web site Saturday that Wolfsburg-based Volkswagen AG would initially get 49.9 percent of Porsche AG and later take the remaining shares.

July 23rd, 2009 Timeline in Porsche, Volkswagen sagaA look at the timeline beginning with Porsche SE's decision to acquire a majority stake in Volkswagen and, ultimately, leading to Thursday's announcement that chief executive Wendelin Wiedeking stepped down and VW's plan to merge with the sports car maker. September 2005: Porsche announces plans to buy a 20 percent stake in Volkswagen AG.

May 7th, 2009 STUTTGART - Owners of the German sports car maker Porsche announced plans Wednesday for merging with the Volkswagen group into what is to be an 'integrated car concern', the final structure of which still has to be worked out. In a disclosure by the family stakeholders of the Porsche-Holding company which owns the carmaker, the future concern consist of 10 independent brands, including the Porsche brand.

July 23rd, 2009 Volkswagen presents concept to merge with PorscheSTUTTGART, Germany — Volkswagen AG says it has agreed to a concept that would see it merge with Porsche Automobil Holding SE, but vows the sports car maker not lose its independence. In a statement the Wolfsburg-based automaker says its supervisory board, the German equivalent to a U.S.

July 23rd, 2009 Porsche's failed plan to acquire VWSTUTTGART, Germany — Porsche Automobil Holding SE started out with the goal of acquiring much larger Volkswagen AG but in the process got upended by the financial crisis — and now finds its sports car business about to be put under VW's umbrella in a merger. — How did this happen? Highly profitable Porsche moved on Volkswagen AG, Europe's biggest car company by sales, led by Chief Executive Wendelin Wiedeking.

July 23rd, 2009 VW to pursue deal with PorscheSTUTTGART, Germany — Volkswagen AG says it will pursue an eventual combination with Porsche but vows the sports car maker will not lose its independence. Wolfsburg-based Volkswagen says its supervisory board, the German equivalent to a U.S.

July 23rd, 2009 VW plans merger with PorscheSTUTTGART, Germany — The best thing Volkswagen AG can do when it carries through its proposed merger with Porsche is this: Leave Porsche alone and reap the revenue from a glossy brand with loyal, rich customers, analysts say. Having emerged Thursday atop a power struggle among members of the Piech and Porsche families — who control Porsche Autombil Holding SE — and cost Wendelin Wiedeking his job as chief executive, Volkswagen is left to gather the spoils, namely the marquee Porsche name that will soon be counted with Audi, Bentley and Lamborghini, already among its stable of luxury brands.

July 23rd, 2009 VW presents concept to merge with PorscheSTUTTGART, Germany — Volkswagen AG said Thursday it will pursue an eventual merger with Porsche SE under VW's leadership, vowing the luxury sports car maker will retain its independence. The Wolfsburg-based automaker, Europe's biggest by sales, said that its supervisory board, the German equivalent to a U.S.

July 23rd, 2009 Porsche CEO steps down, making way for VW mergerSTUTTGART, Germany — Porsche chief executive Wendelin Wiedeking is leaving the luxury sports car maker after 16 years at the helm, a move widely expected to clear the way for a merger with Volkswagen AG. The board for Porsche Automobil Holding SE said Thursday that Wiedeking, 56, and chief financial officer Holger Haerter, 53, were leaving with immediate effect from the heavily indebted company that makes the 911, among other models.

February 3rd, 2009 TORONTO - BlackBerry maker Research In Motion (RIM) has launched a fresh bid to acquire Indian-owned Certicom Corp. which supplies vital technology for its smart phones.

October 6th, 2009 Toyota to show green sportscar with Subaru engineTOKYO — Besides showing off its well-known hybrids, Toyota will take a slightly different tack at the upcoming Tokyo Motor Show to display a green sportscar with a special kind of gasoline engine. The FT-86, inspired by a sporty Corolla model from the 1980s called AE86, has a Subaru engine from Toyota partner Fuji Heavy Industries, whose pistons are positioned horizontally, instead of vertically as in standard engines.

January 20th, 2009 TORONTO - Blackberry maker Research in Motion (RIM) has withdrawn its offer to make a hostile bid for acquiring an encryption technology company. The firm withdrew its offer Tuesday after it was stopped Monday by a Canadian court from making the hostile bid.

May 28th, 2009 MADURAI - The little-known maker of Red Chery - a mobile application used for receiving mails from free and corporate e-mail accounts - is dreaming big: eating into a market straddled by BlackBerry of Canada's Research In Motion and other similar service providers. To make this happen, the Rs.15-crore software product company, AJ Square Consultancy, is banking on an aggressive pricing strategy, and hoping to rope in two million (20 lakh) subscribers by this fiscal-end.