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Company News

Volkswagen truck unit Traton, U.S. Navistar sign merger deal

Nov 7 (Reuters) - Volkswagen AG’s truck unit Traton SE has signed a merger agreement with U.S. truck maker Navistar International Corp, the company said in a statement on Saturday.

Under deal, Traton will acquire all common shares in Navistar that it does not already own at $44.50 per share, the statement said. Traton already holds about 16.7% stake in Navistar.

Traton last month sweetened its takeover bid for Navistar from $43 per share to $44.50 per share.

Reporting by Aishwarya Nair in Bengaluru, editing by Clelia Oziel

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