THE STOCKHOLDERS of Vickers plc will meet Wednesday, 29 April, to decide the fate of Rolls-Royce Motor Cars Ltd.
Vickers has been negotiating for a month with BMW, after accepting BMW's £340 million bid for the luxury carmaker.
Volkswagen's board was to meet last Saturday to consider a late offer for Rolls. Sources said VW would offer £600 million for Rolls-Royce Motor Cars and Cosworth Engineering, another Vickers subsidiary.
VW's late proposal included a British management team, a production increase from 2,000 a year to 10,000 a year, and the hint that VW would build engines in the UK so as to offer an all-British product.
BMW has also promised a British-style management board and an increase in production.