Only yesterday I wrote about my doubts what strategic reasons Porsche might have for their VW takeover bid. Today German news service Czerwensky intern provided an interesting explanation:
There are rumours that Cerberus Capital Management, a billion Dollar hedge fund, considers to take over VW.
Well this actually would be a good reason for Porsche and even more for Ferdinand Piech to act as quickly as they did. A hedge fund would most probably break up VW group, which consists of a broad range of valuable automotive brands, and sell it piece by piece. I already explained why this can’t be in the interest of Porsche and Piech.
Cerberus already hired former VW top manager Wolfgang Bernhard. Czerwensky put it really nicely: “… and we all thought they want to buy Chrysler”.
So let’s see what happenes.