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VW's Traton Offers $35/Share to acquire rest of Navistar (NAV)

January 30, 2020 4:40 PM

Today, TRATON SE, a unit of VW, has submitted to the Board of Directors of the US American truck manufacturer Navistar International Corporation (NYSE: NAV), in which TRATON already holds a share of 16.8%, the proposal to acquire all outstanding shares in Navistar not already owned by TRATON at a price of approx. USD 2.9 bn (USD 35 per Navistar share), in cash. If the proposal is accepted, TRATON will become the sole owner of Navistar. The proposal is in particular subject to TRATON and Navistar agreeing on a merger agreement, the conduct of satisfactory due diligence and the approval of the merger agreement by the boards of TRATON and Volkswagen AG as well as the Board of Directors and the shareholders' meeting of Navistar.

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