Traton agrees price for takeover of Navistar
By Jim Gibbins - 1st November 2020
Germany / USA – TRATON SE (Traton) of Munich, Germany (the medium and heavy commercial vehicle majority-owned subsidiary of Volkswagen AG of Wolfsburg, Germany producing vehicles and other mobility products under the Scania, MAN, VW and RIO brands) has announced it has agreed terms with the major shareholders in US truck and bus builder, Navistar International Corporation, which is headquartered in Lisle, Illinois.
Traton said it has entered into a definitive merger agreement following the conclusion of which, Traton will become the owner of all the outstanding common shares of Navistar not already owned by Traton at a price of USD44.50 per share in cash, the equivalent of some USD3.7bn. Traton currently owns 16.7% of the outstanding shares of common stock of Navistar.
