Editing Scania AB (section)

===Aborted Volvo takeover===
On 7 August 1999, [[Volvo]] announced it had agreed to acquire a majority share in Scania. Volvo was to buy the 49.3% stake in Scania that was owned by [[Investor AB]], Scania's then main shareholder. The acquisition, for US$7.5&nbsp;billion (60.7&nbsp;billion [[Swedish krona|SEK]]), would have created the world's second-largest manufacturer of heavy trucks, behind [[DaimlerChrysler]]. The cash for the deal was to come from the sale of Volvo's car division to [[Ford Motor Company]] in January 1999.<ref>{{cite web |url=http://www.dieselnet.com/news/1999/08volvo.php |title=Volvo buys Scania |date=7 August 1999 |work=Diesel Net |publisher=Ecopoint |access-date=6 October 2009 |url-status=live |archive-url=https://web.archive.org/web/20100419184240/http://www.dieselnet.com/news/1999/08volvo.php |archive-date=19 April 2010 }}</ref>

The merger failed, after the [[European Union]] disapproved, announcing one company would have almost 100% market share in the Nordic markets.{{Citation needed|date= September 2009}}