Volkswagen’s Traton agrees to buy rest of Navistar for $44.50 per share

Volkswagen’s (VWAGY) TRATON SE and Navistar International Corporation (NAV), in which TRATON already holds a stake of 16.8 %, have reached agreement in principle that TRATON will acquire by merger all shares in Navistar not already held by TRATON, at a price of $44.50 per Navistar share. This agreement in principle remains subject to finalization of due diligence to the satisfaction of TRATON, agreeing on the conclusion of a merger agreement and related transaction documents and the approval of the transaction by the executive bodies and committees of TRATON and VOLKSWAGEN AKTIENGESELLSCHAFT as well as the Board of Directors and the Shareholder Meeting of Navistar.