Deals
VW Struggles With Sale of MAN Energy Solutions Unit
- German carmaker views takeover offers for business as too low
- Unit makes diesel engines for ships, turbines for power plants
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Volkswagen AG is disappointed with the offers so far for its MAN Energy Solutions division, according to people familiar with the matter, potentially dealing another blow to the German automaker’s efforts to focus on cars.
VW has been holding bilateral talks since last year with potential buyers including Cummins Inc., said the people, who asked not to be identified because the discussions are private. Competitors including Mitsubishi Heavy Industries Ltd. have previously shown interest, they said, adding that the carmaker may decide to retain the business unless better offers emerge.