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Navistar International Corp on Monday rejected Volkswagen truck unit Traton’s buyout provide of $43 per share, however mentioned it was a place to begin for exploring a potential transaction.
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The firm mentioned Traton’s proposal considerably undervalues it.
Navistar International Corp on Monday rejected Volkswagen truck unit Traton’s buyout provide of $43 per share, however mentioned it was a place to begin for exploring a potential transaction. The German automaker has raised its $35 per share January provide because it appears to extend its 16.6% stake within the U.S. truck maker Navistar acquired in 2016.
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The truck sector faces stress to consolidate and share the prices of creating low-emission applied sciences. Traton and Navistar have been collaborating on buying and creating electrical automobile expertise.
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