Nissan Diesel gives nod to Volvo buyout

Nissan Diesel Motor has decided to give the nod to a buyout bid from its largest shareholder, AB Volvo, for the Japanese truck maker.

Nissan Diesel is set to become a wholly owned unit of the Swedish truck maker after a 22-day tender offer between Wednesday and March 23 with an offered price of Y540 ($A5.75) per Nissan Diesel share.

Nissan Diesel's announcement prompted a decision by the Tokyo Stock Exchange to move the company's stock to its supervision post effective Tuesday.

Source: [url=http://www.theage.com.au/news/Business/Nissan-Diesel-gives-nod-to-Volvo-buyout/2007/02/20/1171733734380.html]The Age[/url]