VW’s Traton Nears $3.7 Billion Deal for the Rest of Navistar
- Shareholders Icahn and Rachesky support $44.50-a-share bid
- Volkswagen’s truck unit set Friday deadline for takeover bid
A Traton International LT A26 haulage truck.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
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.