Ford will spend $6.45 billion to buy Volvo car business

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Ford Motor Co., Dearborn, Mich., and AB Volvo, Stockholm, today fulfilled months of rumors by announcing a deal for Ford to acquire Volvo's passenger car business for $6.45 billion. The Volvo brand will stay separate. Volvo shareholders vote on the deal March 15. If the deal is approved, industry watchers expect Ford to consolidate U.S. Volvo media buying at Ford Motor Media, Detroit, which handles all Ford brands.

Copyright January 1999, Crain Communications Inc.

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