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TRATON makes unsolicited proposal to acquire Navistar for $35 per share in cash

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TRATON makes unsolicited proposal to acquire Navistar for $35 per share in cash

LISLE, Ill. – Navistar International Corporation confirmed on Thursday, Jan. 30, that it has received an unsolicited proposal from TRATON SE regarding a potential transaction to acquire the company for $35 per share in cash.
TRATON SE is a subsidiary of Volkswagen AG and a worldwide commercial vehicle manufacturer offering light-duty commercial vehicles, trucks and buses. Navistar 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.
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.

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The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
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