After two fiscal years 1958 and 1959 suffered heavy losses, the General Meeting of Shareholders on 9 December 1959 was full of tragedy. The Board of Directors and management, both of whom Deutsche Bank had placed in, proposed to sell BMW to Daimler-Benz (the company whose main shareholder is also Deutsche Bank) and if upon that request the shareholders Small crowd almost completely lost ownership.
BMW’s fate seems to have been determined as Deutsche Bank represents about half of the equity thanks to voting rights of bank-deposited shares. But things were different: small shareholders resisted the offer to buy with the help of attorney Dr. Friedrich Mathern sued his balance sheet. This only takes 10% of the votes. The balance sheet is actually flawed because the new car model 700’s cost is reversed in just one year. So the BMW acquisition failed.
See more at: BW Engine It’s not a phase It’s not a hobby It’s not for everyone poster
