Big Law

Volkswagen-Owned Traton Acquires Navistar in $3.7B Merger Deal

Volkswagen truck subsidiary Traton recently struck a deal for the outstanding shares of U.S.-based Navistar International in a deal valued at $3.7 billion. While the company owned 16.7% of Navistar prior to the merger, this firmly cements the company under the umbrella including European MAN and Scania brands.

The two companies were in talk for weeks on price, before settling on $44.50 per share on the remaining stock. As it stands, Volkswagen has previously had no access to the North American market. MAN, Scania and VW’s own truck brands rely on Europe and Latin America for their profits. However, bringing in Navistar adds International trucks to the lineup, a major player in the heavy truck and bus market.

Read the source article at Home – The Fast Lane Truck

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