VW’s Traton Agrees to $3.7 Billion Deal for the Rest of Navistar

(Bloomberg) — Volkswagen AG’s Traton SE agreed to acquire the rest of Navistar International Corp. for $3.7 billion, securing a long-sought position in North America’s lucrative heavy-truck market.VW’s truck division will purchase the remainder of Navistar stock it doesn’t already own for $44.50 a share, according to a statement Friday. Navistar said earlier the transaction is supported by Carl Icahn, its largest shareholder, and MHR Fund Management, the hedge fund founded by Mark Rachesky.Navistar shares surged as much as 23% to $43.65 as of 12:45 p.m. Friday in New York. The stock slumped earlier this week after Traton put out …read more

Source:: Yahoo Finance


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