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April 23, 2021

Rolls-Royce and Daimler consider EUR 3bln bid for German engine maker

Car producer Rolls-Royce has slipped 2p to 602p after news of a possible joint bid with Daimler for German engine maker Tognum, The Guardian informs. Rolls officials said the three sides were in “constructive discussions” about acquiring the majority of Tognum, which makes engines for yachts and trains as well as small power plants. Daimler used to own the whole of Tognum and still retains a 28.4 per cent stake. A deal to buy Tognum could be worth as much as EUR 3 bln.

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