Volkswagen Truck Unit Traton Offers to Buy Navistar at $35 a Share
January 30 2020 - 5:43PM
Dow Jones News
By Josh Beckerman
Traton SE (8TRA.BE), which has a 16.8% stake in Navistar
International Corp. (NAV), has offered to buy the whole company for
$35 a share.
Navistar shares surged 52% after hours to $36.50.
Volkswagen AG's truck unit Traton held an initial public
offering last year. Volkswagen said it has signaled "its general
intention to provide funds" for an offer.
Navistar said it "will carefully review and evaluate the
proposal."
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
January 30, 2020 17:28 ET (22:28 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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