Traton Boosts Navistar Takeover Offer To $43 Per Share From $35

Traton said it has informed the board of Navistar International (NAV), in which Traton already holds a share of 16.8%, of an increase of its offer from January 30 for the acquisition of all shares in Navistar not already held by Traton at an offer price of $35.00 per Navistar share, to $43.00 per Navistar share and $3.6B in total.

Volkswagen (VWAGY) has confirmed its general intention also to provide funds for the financing of an increased offer. If the proposal is accepted, Traton will become the sole owner of Navistar, it noted.

Navistar shares are trading up 19%, or $6.93, to $42.80 in early trading.

Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at  more

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.