Bloomberg said Volkswagen, Europe’s largest automaker, extended the offer period for its 6.7 billion-euro ($9.3 billion) bid for the rest of truckmaker Scania after failing to reach the necessary 90 percent threshold.

“I think VW will manage to get above the 90 percent threshold eventually,” Juergen Pieper, a Frankfurt-based analyst at Metzler Bank, told the newsbureau. “The shareholders who waited until the last minute for a better price got a clear signal now that this won’t happen.”