VW Takes Over Porsche
The Beetle company buys the 911 company
The deal, which has VW paying Porsche $5.65 billion for the 50.1% of the company it does not already own, will add Porsche to VW's stable of luxury car brands, which already includes Audi, Bentley, Lamborghini and Bugatti.
The deal was greeted warmly by investors, who drove up VW shares on Thursday.
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