Traton Increases Offer to Acquire Navistar to $3.6 Billion
11 September 2020 - 12:16AM
Dow Jones News
By Giulia Petroni
Traton SE said Thursday that it increased its offer for the
acquisition of all outstanding shares of truck manufacturer
Navistar International Corp. to $43 a share in cash from $35 a
share.
Volkswagen AG-subsidiary Traton already holds 16.8% of
Illinois-based Navistar. The new deal would be worth $3.6 billion,
compared with the original offer of $2.9 billion.
Traton added Volkswagen has confirmed its general intention to
provide funds to finance an increased offer. The proposal is
subject to a satisfactory due-diligence process and approval of the
merger agreement.
Navistar shares closed at $35.84 on Wednesday.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
September 10, 2020 10:01 ET (14:01 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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