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FRANKFURT (Reuters) – Teutonic manufacturer Volkswagen (VOWG_p.DE) formally launched its effort for MAN (MANG.DE) on weekday in a advise toward creating Europe's large truckmaker.

VW's chair Ferdinand Piech has long been itching to combine MAN and Sweden's Scania (SCVb.ST) to verify on the world's large truck maker, technologist (DAIGn.DE), and number digit Volvo (VOLVb.ST), but has been hampered by anti-trust issues and status from Scania.

The Teutonic manufacturer already owns a controlling wager in Scania and has triggered a mandatory substance for MAN by crescendo its shareholding to more than 30 proportionality from 29.9 percent.

Its low-ball substance of 95 euros per share for MAN is seen as existence deliberately plain in the aforementioned way as land construction assemble ACS (ACS.MC) sought to physique its wager in Teutonic rival Hochtief (HOTG.DE) without having to clear for the full company.

Shares in MAN were trading 0.1 proportionality higher at 96.62 euros by 3:46 a.m. EDT on Tuesday, 1.7 proportionality above VW's substance price.

If some investors accept the offer, which values MAN at most 13.8 1000000000 euros ($19.7 billion), VW module goodness by existence allowed under Teutonic rules to then gradually acquire shares in the market and by effort regulatory support allowing fireman cooperation between MAN and Scania.

In a prototypal step, VW , which has a war chest of nearly 20 1000000000 euros, module pay most 1.5 1000000000 euros to raise its wager in MAN to 35-40 proportionality of voting rights.

Eventually, it envisions a trucks assemble combine MAN and Scania and action most 400 meg euros of costs per year.

MAN module interpret on VW's substance within digit weeks, a spokesman for the truck concern said. He said MAN was in favor of cooperation with VW in generalisation as it saw industrialized system and possibleness fund in much a deal.

The declaration by VW, which is existence wise on the deal by Credit Suisse (CSGN.VX), comes five eld after MAN tried and failed to verify over Scania, leaving relations frosty.

Since then, the digit companies hit struggled to advancement in talks under VW's guidance. Last month's 4.9 1000000000 euro rights issue of Porsche SE (PSHG_p.DE), VW's large shareholder, removed a weaving country in VW's knowledge to margin takeovers.

($1=.7000 euros)

(Reporting by Jan Schwartz and Andreas Kroener; Writing by Maria Sheahan; Editing by Greg Mahlich)

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