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Navistar Rejects Traton's Buyout Offer, Calls It Starting Point

Navistar International Corp on Monday rejected Volkswagen truck unit Traton's buyout offer of $43 per share, but said it was a starting point for exploring a possible transaction.The German automaker has raised its $35 per share January offer as it looks to increase its 16.6% stake in the U.S. truck maker Navistar acquired in 2016.
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By Reuters

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1 mins read

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Published on September 15, 2020

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    Navistar International Corp on Monday rejected Volkswagen truck unit Traton's buyout offer of $43 per share, but said it was a starting point for exploring a possible transaction. The German automaker has raised its $35 per share January offer as it looks to increase its 16.6% stake in the U.S. truck maker Navistar acquired in 2016.

    Also Read: Volkswagen's CEO Herbert Diess Drives The Tesla Model Y

    volkswagen navistar electric truck

    Traton and Navistar have been collaborating on purchasing and developing electric vehicle technology.

    Analysts at Jefferies have said Navistar is worth at least $45 a share. The company said Traton's proposal significantly undervalues it.

    The truck sector faces pressure to consolidate and share the costs of developing low-emission technologies. Traton and Navistar have been collaborating on purchasing and developing electric vehicle technology.

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