Scania AB (SCV.A, Financial)(0.8%) (SCV/A - SEK 190.40 - STO), based in Sweden, is a leader in the manufacture of heavy duty trucks and buses. Since 2008, the company has been controlled by global automaker Volkswagen AG, through its ownership of 62.64% of the company and an 89.18% share of the vote. On February 21, 2014, Volkswagen launched a SEK 200 tender for shares of both classes it does not currently own. The tender, which is conditioned upon Volkswagen reaching a 90% ownership level, is expected to expire in late April.
From Mario Gabelli (Trades, Portfolio)'s first quarter 2014 ABC Fund commentary.
