Volkswagen: Traton raises offer for Navistar to 43 dollars
(CercleFinance.com) - Volkswagen announces that its truck division Traton has increased its offer for all of the outstanding common shares of Navistar that it does not already hold, at a price of 43 dollars per share, in cash.
The offer represents a 23% increase from the 35 dollars per share that Traton offered at the end of January.
Traton currently holds 16.8% of Navistar's outstanding common shares.
Invest Securities said that Traton, the world number two, although absent from the US market, aims to expand its operations there to compete with Daimler and Volvo, which have a strong presence, while Traton primarily operates in Europe and Latin America.
Navistar said in a statement that management will "carefully consider" the offer.
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The offer represents a 23% increase from the 35 dollars per share that Traton offered at the end of January.
Traton currently holds 16.8% of Navistar's outstanding common shares.
Invest Securities said that Traton, the world number two, although absent from the US market, aims to expand its operations there to compete with Daimler and Volvo, which have a strong presence, while Traton primarily operates in Europe and Latin America.
Navistar said in a statement that management will "carefully consider" the offer.
Copyright (c) 2020 CercleFinance.com. All rights reserved.