Navistar Trades Higher After VW's Traton Makes Takeover Offer

Navistar International NAV shares are trading sharply higher on Friday after the company announced it has received an unsolicited proposal from Traton SE regarding a potential transaction to acquire the company for $35 per share in cash.

Traton SE is the commercial vehicles division of Volkswagen VLKAY and already holds a share of 16.8%. The company has made a proposal to acquire all outstanding shares in Navistar.

Navistar shares were trading up 55.38% at $37.40 in Friday’s pre-market session. The stock has a 52-week high of $39.52 and a 52-week low of $21.32.

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Posted In: TRATONM&ANews