A German statute known as the "Volkswagen Law" was struck down Tuesday by the European Court of Justice, opening the door for sports car maker Porsche to acquire the German automaker.
The ruling means that Porsche, which has expressed an interest in making Volkswagen a rival to Toyota in terms of global sales, can now proceed.
Porsche already owns a significant amount of shares in Volkswagen. It's now free to continue buying up VW stock, increase its voting share, become the majority owner and take control of the company.
"With a voting interest of just above … Read more