BMW was an ailing company and in 1959 its management suggested selling the whole concern to Daimler-Benz. Herbert Quandt was close to agreeing to such a deal, but changed his mind at the last minute because of opposition from the workforce and trade unions. Instead he increased his share in BMW to 50% against the advice of his bankers, risking much of his wealth. He was instrumental in reversing the company's fortunes.