In light of recent events with Porsche submitting a bid to buy Volkswagen, we thought it would be interesting to take a trip back in time and learn where this relationship actually started.
What we found was that the two companies have always had a close relationship and collaborated on many projects. However, this relationship didn’t pick off somewhere down the road by the two running into each other and falling love; the two always had that “love at first sight” relationship.
Porsche, which was founded in 1931 by Austrian Fedinand Porsche, was the engineer that created the first Volkswagen car. Not only that, the first Porsche ever built, the Porsche 64 in 1938, used many components from the Volkswagen beetle.
It was only recently in 2005 when Porsche decided to take a 18.65 percent stake in Volkswagen. The move came after it got jealous due to rumors of DaimlerChrysler, BMW and Renault planning to take over Volkswagen.
Now Porsche holds over a 30 percent stake in Germany’s largest auto maker has officially submitted an offer to acquire shares of Volkswagen, which will give it total control of Germany’s largest auto maker. The price offered to the Volkswagen shareholders amounts to €100.92 ($137.78) per common share and €65.54 ($89.47) per preferred share, which represents the minimum price required by law.
Whatever people say, these two are meant to be.