(Bloomberg) — Volkswagen AG’s heavy-truck unit, is nearing an agreement to acquire the rest of Navistar International Corp. for $3.69 billion in a deal supported by billionaire investor Carl Icahn.VW’s Traton SE is finalizing an agreement to purchase the rest of Navistar stock it doesn’t already own for $44.50 a share, the U.S. truckmaker said in a statement Friday. The transaction is supported by Icahn, Navistar’s largest shareholder, and MHR Fund Management, the hedge fund founded by Mark Rachesky.Navistar shares surged as much as 21% to $42.97 shortly after the open of regular trading. The stock slumped earlier this week …read more
Source:: Yahoo Finance
