Paccar (Nasdaq: PCAR) is on watch Thursday following speculation that automotive giant Volkswagen (OTCBB: VLKAY) might be looking to acquire the company.
Reuters, citing commentary from Bernstein Research analyst Max Warburton, who quoted Daimler Trucks Chief Wolfgang Bernhard, said Volkswagen might move to buy Paccar sometime next year. The analyst said serious, multiple sources informed him about the possible move.
However, Bloomberg said earlier this morning, citing a spokesperson with the company, that Volkswagen isn’t interested in purchasing the truck maker.
Volkswagen moved to acquire Swedish truck manufacturer Scania AB last month, selling €2 billion worth of preferred stock to fund the deal.
Warburton said Volkswagen purchasing Paccar would not be a ridiculous move, given the company’s truck operations currently are all non-NAFTA … But a deal would be expensive, require a capital raise and may upset investors.