funds from dismantling VW. As expected, on 22 October 2007, the European Court of Justice ruled in agreement with Ruiz-Jarabo and the law was struck down. In October 2007, the European Court of Justice ruled that the VW law was illegal because it was protectionist. At that time, Porsche held 31% of VW shares – although a smaller proportion of voting rights, due to the Volkswagen Law – and there had been speculation that Porsche would be interested in taking over VW if the law did not stand in its way. The court also prevented the government from appointing Volkswagen board members. The German government then rewrote the Volkswagen law, only to be sued again. In October 2013, the EU Court of Justice in Luxembourg ruled that the rewritten Volkswagen law "complied in full" with EU rules. On 26 October 2008, Porsche revealed its plan to assume control of VW. As of that day, it held 42.6% of Volkswagen's ordinary shares and stock options on another 31.5%. Combined with the state of Lower Saxony's 20.1% stake, this left only 5.8% of shares on the market—mostly with index funds that could not legally sell. Hedge funds desperate to cover their short positions forced Volkswagen stock above one thousand euros per share, briefly making it the world's largest company by market capitalisation on 28 October 2008. By January 2009, Porsche had a 50.76% holding in Volkswagen AG, although the "Volkswagen Law" prevented it from taking control of the company. On 6 May 2009, the two companies decided to join, in a merger. On 13 August, Volkswagen Aktiengesellschaft's supervisory board signed the agreement to create an integrated automotive group with Porsche led by Volkswagen. The initial decision was for Volkswagen to take a 42.0% stake in Porsche AG by the end of 2009, and it would also see the family shareholders selling the automobile trading business of Porsche Holding Salzburg to Volkswagen. In October 2009 however, Volkswagen announced that its percentage in Porsche would be 49.9% for a cost of €3.9 billion (the 42.0% deal would have cost €3.3 billion). On 1 March 2011, Volkswagen has finalised the purchase of Porsche Holding Salzburg (PHS), Austria's leading specialty automobile distributor, for €3.3 billion ($4.55 billion). In January 2020, Volkswagen was overtaken by Tesla, Inc. as the second-most valuable auto maker. Product line The Volkswagen brand produces various models which consists of global products and