VW's Traton to Acquire Navistar

摘要

Volkswagen's truck division, Traton, will move forward to acquire Navistar following a letter from the Navistar board approving a cash offer of $44.50 per share, a deal estimated to be $3.7 billion. Traton had gained support from Navi-star's two largest shareholders, and the Lisle, Illinois-based heavy truck manufacturer agreed to the deal after confirming their support. Traton owns slightly less than 17 percent of the company. The two largest shareholders are Carl Icahn and MHR Fund Management. The merger would give Traton access to North American markets and add the International brand to its other truck brands: MAN, Scania, and Volkswagen.