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French light armoured vehicle maker Panhard plans to launch a takeover bid for Nexter systems UK.

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French light armoured vehicle maker Panhard plans to launch a takeover bid for the much larger, state-owned land armaments group Nexter, should the French government give the green light to the move. "I believe a reverse takeover wouldn't be impossible to achieve," Christian Mons, chairman and chief executive officer of Panhard, told Jane's on 5 January, adding that "Panhard would like to play a part in the much-needed consolidation of the French and European land armaments industry" and that acquiring Nexter could prove "a positive step in that direction". Mons said he had discussed mounting a bid for Nexter - formerly Giat Industries - with French defence minister Hervé Morin but that he had yet to raise the matter with France's finance ministry, which spent over EUR4 billion (USD5.7 billion) in the 1990s and early 2000s to keep Nexter from collapsing. Mons contended that a Panhard-Nexter alliance could be the first step towards achieving critical mass that would put the French group in a position to forge a strong partnership with another European land armaments concern.French light armoured vehicle maker Panhard plans to launch a takeover bid for the much larger, state-owned land armaments group Nexter, should the French government give the green light to the move.

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