October 28, 1997 |
British engineering company Vickers on Monday placed a "For Sale" sign on its Rolls-Royce Motors luxury car maker, and Germany's BMW emerged as the early favorite to buy it. Industry analysts said the unit could bring about $655 million. Rolls-Royce, a byword for British style and quality for almost a century, could become the latest in a long line of illustrious British auto manufacturers bought out by foreign companies.
May 9, 1998 |
BMW stepped out of the bidding war for Rolls-Royce Motor Ltd. on Friday, leaving rival German auto maker Volkswagen in the lead to win the luxury auto maker a day after Vickers accepted its sweetened offer. But Volkswagen faces major hurdles--including a battle to use the Rolls brand name--in gaining control of Rolls even if Vickers' shareholders choose its $705-million offer at their meeting next month.
December 28, 1988 |
furniture manufacturer Haworth Inc. has purchased a European-based seating companyfor nearly $30 million, Haworth officials announced. Haworth, one of the world's largest manufacturers of office systems furniture, acquired the Comforto Group from Vickers Public Ltd., a $1.5-billion British holding company known for producing Rolls Royces and the world's first military tanks. A Vickers spokesman said the transaction was a cash deal for $29.5 million
April 10, 1998 |
Britain's Vickers said Thursday that sales of its Rolls-Royce and Bentley cars fell in the first quarter, while the luxury car unit remains the focus of a takeover battle between two German automobile giants. The company said sales declined to 251 from 446 in the fourth quarter of fiscal 1997, with declines in most regions. German car rivals BMW and Volkswagen are battling to buy Rolls-Royce Motor Cars, with Vickers having chosen BMW as its preferred bidder following a $569-million offer.
December 20, 1994 |
Germany's BMW trumped its arch-rival Mercedes-Benz Monday by signing a deal with Rolls-Royce Motor Cars that will put BMW engines in the world's most prestigious cars. The coup over Mercedes marks the end of a high-profile year for BMW that began with its controversial acquisition of Britain's last British-owned high-volume car manufacturer, Rover Cars, from British Aerospace. The Rolls-BMW deal marks the end of an era for Rolls-Royce, whose cars convey the rich and the royal the world over.