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RobertRyan's avatar
RobertRyan
Explorer
Feb 03, 2020

VW Traton has made a bid for Navistar

Navistar who made diesel engines for Ford Pickups and VW who is cooperating with Ford on Vans and the New Ranger. Now VW's heavy Truck division wants to get into the US market, although Heavy Trucks have taken a
hit in the US
VW Traton has made a bid for Navistar

News broke late Jan. 30 that Volkswagen’s global truck unit, Traton SE, is finally making its long-anticipated bid to fully acquire all stock holdings of Navistar International.

Since 2016, Volkswagen, through subsidiary Traton, has acquired a nearly 17% stake in Navistar. Now the company has made an unsolicited bid to acquire the remaining Navistar stake for $35 a share, representing a 45% premium on the company’s closing price of $24.07 a share on Thursday, according to a report in the Wall Street Journal. This would put Navistar’s total valuation at $3.5 billion, WSJ added.

Shares in Navistar rose 51% in after-hours trading.