Navistar Shares Jump as Volkswagen Mulls Deal -- Market Mover

Date : 16/04/2018 @ 22:58
Source : Dow Jones News
Stock : Volkswagen (PC) (VLKAY)
Quote : 40.13  -0.56 (-1.38%) @ 06:20
Volkswagen (PC) share price Chart

Navistar Shares Jump as Volkswagen Mulls Deal -- Market Mover

Navistar (NYSE:NAV)
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1 Month : From Mar 2018 to Apr 2018

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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)

Copyright (c) 2018 Dow Jones & Company, Inc.
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