STOCKHOLM, April 24 (Reuters) - Swedish pension funds group Swedbank Robur said on Thursday it would accept Volkswagen’s 200 crown per share offer for the shares in truck maker Scania it does not already own.
Swedbank Robur Fonder is the fourth largest owner of Scania shares measured by capital with a 1.9 percent stake and its decision comes only a day after Alecta, the number three owner, said it was spurning the offer.
Volkswagen is seeking to gain full ownership of Scania to speed up the tie-up of the truck maker with German MAN SE , which is also controlled by VW, to create a trucks group that can take on larger rivals such as Daimler.
Rejections by a string of Swedish pension funds have left prospects the offer will reach the target of 90 percent acceptance set by Volkswagen in doubt, reflected in the Scania share price that is trading far below the bid level. (Reporting by Niklas Pollard)