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.
 

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