Volkswagen to buy remaining half of Porsche
POSTED: Thursday, July 5, 2012 - 8:30am
UPDATED: Thursday, July 5, 2012 - 8:34am
NBC News — Volkswagen announced thursday it is buying the remaining half of luxury carmaker Porsche. The announcement ends a protracted takeover struggle that sparked high-profile family feuds and investor lawsuits.
VW will pay $5.9 billion in cash to buy the remaining 50.1% share of Porsche's auto business. Porsche and VW agreed to a merger in August 2009 after the maker of the iconic 911 sports car edged toward bankruptcy.