Navistar Shares Jump as Volkswagen Mulls Deal -- Market Mover
16 April 2018 - 10:58PM
Dow Jones News
Navistar International Corp. (NAV) shares popped 6.7% during
premarket trading after Volkswagen AG's commercial-vehicles
business said it is considering increasing its stake in the U.S.
truck company to more than 17%. The move which would force the
company to make an offer for all of Navistar. Volkswagen's
commercial truck unit already owns a stake just shy of 17%.
Navistar was valued at about $3.66 billion as of last week's close.
Before the premarket gains, Navistar shares had fallen 14% to
$37.06 so far this year while the S&P 500 has dropped 0.7%.
(imani.moise@wsj.com; @MoiseNoise)
(END) Dow Jones Newswires
April 16, 2018 08:43 ET (12:43 GMT)
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