Volkswagen Sees Europcar Deal as Attractive, Quashes Hopes for Higher Bid

Volkswagen Sees Europcar Deal as Attractive, Quashes Hopes for Higher Bid
The logo of German carmaker Volkswagen is seen on a rim cap in a showroom of a Volkswagen car dealer in Brussels, on July 9, 2020. Francois Lenoir/Reuters
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FRANKFURT—Volkswagen is convinced that its 2.9 billion euro ($3.3 billion) offer for France’s Europcar, made as part of a consortium, fairly reflects the firm’s value, a senior executive said, pouring cold water on hopes for a higher bid.

“With a takeover premium of 30–40 percent, depending on the reference point, we have presented a very attractive offer,” Christian Dahlheim, Volkswagen’s head of group sales and one of the main architects of the deal, told Reuters.