Porsche, VW agree merger

Volkswagen and Porsche announced plans to merge on Wednesday, ending the 3½-year takeover saga surrounding Europe’s largest carmaker. After a meeting of the Porsche family owners and VW and Porsche executives in Salzburg, the family clan agreed to create an “integrated car-manufacturing group” with 10 marques under one roof. The move in effect sets Porsche aside from the nine existing brands of the VW group, dashing its hopes of dominating the group.