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Volkswagen’s truck unit Traton makes $2.9 billion cash offer to buy Navistar International

By January 31, 2020No Comments

In a move that sent the stock price of International Trucks parent company Navistar soaring in after-hours trading, the global truck unit of Volkswagen has made an unsolicited cash offer to buy Navistar International Corporation for $35 a share.

Navistar confirmed in a statement that the offer has been made and that it has yet to decide whether to accept it. The company says its Board of Directors “will carefully review and evaluate the proposal in the context of Navistar’s strategic plan for the company in order to determine the course of action that it believes is in the best interest of the company and its stakeholders.”