Reason number one why the ‘10s are worse than the ‘80s: greedy hedge fund managers are suing Porsche not because they drove backwards into a tree, but because the company's surprise takeover of VW caught them with their pants down.
The wonderfully inbred VW–Porsche saga continues. After all-night negotiations, Wendelin Wiedeking has left Porsche.
Like a snake trying to eat its own tail, Porsche and Volkswagen AG (and their respective families) are jockeying over ownership of two companies that are practically one — though VW now has a slight advantage.
Furthering an effort begun by Porsche in 2005, an E.U. commission Wednesday granted permission for the sports car manufacturer to gain control of Volkswagen. If it seems that the buyout process has been happening in slow-motion, that's because it has: Thanks to arcane rules and buyout clauses, Porsche has had to…