Monday, September 28, 2009

Update on Volvo Bidding

Since Volvo was put up for sale in December of 2008 a series of interested parties has come forth to put in their bid, however there are only 2 remaining buyers that Ford seems to be serious about. One of these companies is Shanghai Automotive Industry Corp, the other is Geely Automaker, both are Chinese. Geely is the currently frontrunner with a bid of $2.5 billion. The bid is much higher than expected considering Volvo has sold 25% less this year than last.

The main draw of Volvo has been not only the company's name but the safety technology the company has developed over the past few years.

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