OTHER NEWS - May 5, 1992
From Times Staff and Wire Reports
Volvo May Attempt Procordia Takeover: Swedish car maker Volvo ended months of speculation over a tie-up with Procordia, saying it was raising its stake in the food and drugs company and might later make a full takeover bid. The announcement was the latest development in what industry analysts say is an effort by Volvo to cement its links with French auto maker Renault. It said Procordia, in turn, had dropped a bid for the auto maker after the government and Volvo struck a deal over Procordia shares, in effect handing Volvo control of the conglomerate.
