WOLFSBURG (dpa-AFX) - Navistar International Corp. (NAV) has received an unsolicited proposal from TRATON SE to acquire the company for $35 per share. The company said its Board, in consultation with its financial and legal advisors, will review the proposal. Navistar advised its shareholders to take no action.
TRATON already holds a share of 16.8% in Navistar. If the proposal is accepted, TRATON will become the sole owner of Navistar. TRATON said Volkswagen AG has signalled its general intention to provide funds for the financing of an offer.
Copyright RTT News/dpa-AFX
© 2020 AFX News