LISLE, Ill., Jan. 30, 2020 /PRNewswire/ -- Navistar
International Corporation (NYSE: NAV) today confirmed that it has
received an unsolicited proposal from TRATON SE regarding a
potential transaction to acquire the company for $35 per share in cash.
Consistent with its fiduciary duties, Navistar's Board of
Directors, in consultation with its financial and legal advisors,
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. Navistar advises its shareholders to
take no action, and no shareholder vote is required at this
time.
There can be no assurance that any negotiations between Navistar
and TRATON regarding this proposal will take place, and if such
negotiations do take place, there can be no assurance that any
transaction with TRATON will occur or be consummated. Navistar does
not intend to make any additional comments regarding the proposal
unless and until it is appropriate to do so or a formal agreement
has been reached.
About Navistar
Navistar International Corporation (NYSE: NAV) is a holding company
whose subsidiaries and affiliates produce International®
brand commercial trucks, proprietary diesel engines, and IC
Bus® brand school and commercial buses. An affiliate
also provides truck and diesel engine service parts. Another
affiliate offers financing services. Additional information is
available at www.Navistar.com.
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SOURCE Navistar International Corporation