VOW3 Volkswagen AG

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)

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