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Traton Group makes bid for Navistar

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By Jim Gibbins - 1st June 2020

Germany / USA – Traton SE of Munich, Germany has offered to acquire all of the outstanding shares of common stock in Navistar International Corporation (Navistar) of Lisle, Illinois, USA, not already owned by Traton at a price of USD35 per share in cash; this represents a 45% premium over Navistar’s closing share price of USD24.11 on January 29, 2020 and a 19% premium over Navistar’s 90-day volume weighted average price of USD29.40.

Traton (as of January 30, 2020) owned 16.8% of the outstanding common shares of Navistar. There were no further details on these plans mentioned by Traton CEO, Andreas Renschler’s post-Covid 19 webinar address on May 25 – see extract article in this issue.

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