German automotive group, Daimler, and U.K. engine maker, Rolls-Royce, are planning to jointly bid for Tognum, Financial Times reports. The offer is expected to value the German engine supplier at more than €3 billion.
Both the companies may buy the majority of Tognum in equal shares. Any offer will increase Daimler’s 28.4% stake in Tognum. Rolls-Royce is planning to add its Bergen gas engine unit to a joint venture as part of the deal.
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