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by bluedevil2k
2820 days ago
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There was a lot of interesting things going on between VW and Porsche 10 years ago. First Porsche silently tried to buy VW by accumulating shares and call options. They ended up with 42% of the shares and call options for another 32%. Since the German state of Lower Saxony owns 20% and would never sell, only 6% of the shares were floating and it created a short squeeze. For a short time, VW was the most valuable company in the world. (1) Just a year later, after the global recession and the resulting decrease in Porsches sold, they were facing problems repaying debt and ended up being purchased by VW. (1) https://www.nytimes.com/2008/10/30/business/worldbusiness/30... |
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