(Bloomberg) — Volkswagen AG’s heavy-truck division set a deadline for Navistar International Corp. to accept its takeover bid, dousing hopes for a richer offer than the $3.6 billion dangled last month.VW’s Traton SE unit said that its $43-a-share offer expires at 6 p.m. Central European Time on Friday and will be withdrawn unless it’s notified of a willingness to proceed. Navistar signaled last month it would seek a higher bid than what Traton offered.The price “represents our best and final offer,” Traton said in a letter to Navistar’s board of directors. Navistar shares plunged as much as 21% to $35, …read more
Source:: Yahoo Finance
