Too busy to bid on Chrysler, AB Volvo (the Volvo company that makes trucks) offered to purchase Japan-based Nissan Diesel for $1.1 billion, or 5.5 billion ramen noodle packs at the current rate of exchange. Volvo already has a 19% stake in the company and hopes to close the deal soon to prepare for new Japanese emissions standards. Both companies support the deal and analysts give the deal a Big Thumb up since Renault/Nissan gets to focus on making money with cars and Volvo gets to maintain control of its own technology and expand its operations in Asia.
Volvo Bids $1 Billion For Nissan Diesel [Bismark Tribune]
Volvo Buys Stake In Nissan Diesel [Internal]