Volkswagen's Traton Strikes Deal to Buy Navistar
October 16 2020 - 1:31PM
Dow Jones News
By Mauro Orru
Traton SE said Friday that it has reached an agreement in
principle to buy Navistar International Corp.
The Volkswagen AG subsidiary, which has a stake of 16.8% in the
Illinois-based, maker of trucks and buses, said it would buy all
shares in Navistar not already held at $44.50 per share.
"We are looking forward to completing our due diligence and
obtaining the necessary approvals in respect of this exciting deal
in order to welcome the new Traton family member," said Traton
Chief Executive Matthias Gruendler.
Navistar International Corp. said earlier on Friday that it was
willing to be bought by Traton at a higher price than $43 a share
as previously proposed.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
October 16, 2020 13:16 ET (17:16 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Navistar (NYSE:NAV)
Historical Stock Chart
From Mar 2024 to Apr 2024
Navistar (NYSE:NAV)
Historical Stock Chart
From Apr 2023 to Apr 2024
