Traton offers USD35 per Navistar International share.
Auto Business News-January 31, 2020--Traton offers USD35 per Navistar International share
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Auto Business News - 31 January 2020
Traton, a commercial truck unit that belongs to Volkswagen AG (Xetra: VW), has offered USD35 per share or USD2.9bn in total for the shares of United States truck maker Navistar International that it does not already own.
According to investors, the bid will go higher. Navistar shares increased by 50 percent to more than USD36 per share in after-hours trading following Traton's proposal, suggesting investors expect a potential deal could be richer than Traton's opening offer. Traton stated that its offer was subject to Navistar and Traton reaching a merger agreement.
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