TRATON sets deadline for Navistar offer
Munich, October 14, 2020 – Today TRATON SE (“TRATON”), one of the world’s largest commercial vehicle manufacturers, informed Navistar International Corporation (“Navistar”) (NYSE: NAV) that TRATON’s 10 September 2020 offer of USD 43.00 per share in cash for all outstanding shares of common stock of Navistar not already owned by TRATON would expire if not accepted by Friday, October 16, 6 pm CET.
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TRATON SE is a wholly-owned subsidiary of Volkswagen AG and a leading commercial vehicle manufacturer worldwide with its brands MAN, Scania, Volkswagen Caminhões e Ônibus, and RIO. In 2019, TRATON GROUP’s brands sold around 242,000 vehicles in total. Its product range comprises light-duty commercial vehicles, trucks and buses that are produced in 17 countries. The company had a workforce of around 82,700 worldwide across its commercial vehicle brands as of December 31, 2019. The Group seeks to transform the transportation system – with its products, its services and its partnership with customers.