Paccar Inc. (NASDAQ: PCAR) may be in line for a bid from Volkswagen AG (VKLAY).

According to a Bernstein Report released yesterday, Wolfgang Bernhard, chief of Daimier (DDAIF) Trucks, claimed that multiple sources had told him that next year Volkswagen was going to place a bid for Paccar for 2015.

On the other hand, Volkswagen rejected Bernhard’s statements Thursday, saying that it had no interest in bidding for the truck company.

Neither company was available for comment.

Analysts have been saying that Volkswagen will eventually enter the truck market, by acquiring Paccar, and competing against other entities in the market, namely Volvo and Daimier.

Volkwagen’s possible purchase of Paccar has been no secret in the industry. Last month, Volkswagen raised $2.7 billion by selling preferred stock to fund the company as it took over Swedish truck manufacturer Scania in order to enter the truck market in Europe and compete with Daimier. However, Volkswagen still does not have a presence in the American market for trucks. Paccar would be the perfect way for the auto maker to enter the truck market.

Paccar is the manufacturer of Peterbilt and Kenworth trucks in the United States of America. The truck maker also holds value in Europe, being the maker of DAF vehicles there.

Paccar is valued at $22.6 billion. If a deal were to occur between Volkswagen and Paccar, it would be expensive and disgruntle investors, despite the benefits Volkswagen could reap.

This Thursday morning, PACCAR’s stock opened at a high of $67.01, jumping up 3.23. This is the highest price the stock has been in three months.

In the most recent quarter, PACCAR has increased earnings by 14.9%. Over the last twelve months, the company has shown consistent increased earnings per share growth. Last year, PACCAR’s revenue increased from $3.12 to $3.30. This year, analysts expect an increase in earnings from $3.30 to $3.62.

If you compare Paccar to other companies in the machine industry, Paccar is trailing behind the average in return on equity. However, it still exceeds that of the S&P 500.

Revenue growth was also 6.5% this year, higher than the industry average. Compared to the first quarter of the previous fiscal year, revenue has increased by 11.6%. This growth in earnings means more earnings per share for shareholders.

On the other hand, analysts say that if Volkswagen wants to gain footing in the European truck market, perhaps it should partner Paccar with CNH Industrial. This company makes Iveco trucks, and could cost as much as $2.5 billion to purchase. Last time Volkwagen spent billions of euros on Scania and MAN, it got very little financial return because other investors refused to share technology that would have yielded higher profit for all.

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