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There's going to be some more consolidation - and Ford has put Volvo on the block (the last rumor was the Chinese were interested). BMW & Volvo would make a pretty strong, stable, company and Volvo is respected for it's safety engineering and meets BMW's 'premium' brand requirements. There was a talk not long ago that BMW felt that you had to be a 2 million per anum manufacturer to fend off a takeover bid.
I don't have any of the recent annual reports for BMW readily at hand. It would be interesting to see what their cash reserves were.
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