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US: Truck maker denies VW merger talks

By  |  July 30, 2014

Paccar has reportedly denied allegations that the commercial truck maker and owner of the Peterbilt and Kenworth brands is seeking a merger with Germany’s Volkswagen.

On a conference call Tuesday, Paccar Chief Executive Ron Armstrong said “there have been no discussions with Volkswagen.”

Earlier this month, analysts suggested that Paccar could be a significant takeover target and quoted Volkswagen truck operations as seeking a possible acquisition of Paccar. Volkswagen similarly denied such a merger, but one former VW executive had publicly stated that “serious, multiple sources” said a deal could be reached next year.

Full content: Wall Street Journal

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