Traton is a subsidiary of the Volkswagen Group and one of the world’s largest commercial vehicle manufacturers with its MAN, Scania, and Volkswagen Caminhões e Ônibus brands.
The industrial vehicles division of the Volkswagen group, Traton, has accepted Navistar’s latest counterproposal for its sale, for which it will acquire the US firm at a price of $ 44.5 per share, which is to value it at a total of about 4,450 million dollars (almost 3,800 million euros).
Given that Traton already owns 16.8% of the company, the agreement will involve a disbursement of more than 3,700 million dollars (3,160 million euros). The agreement has been produced at the last minute, since this week Traton announced that its offer expired this Friday. If the talks had not been successful, Traton would have definitively withdrawn from the negotiation.
“We are happy to have reached an agreement in principle for a transaction after intensive negotiations with Navistar. We look forward to completing the due diligence and obtaining the necessary approvals regarding this exciting deal to welcome the new member of the Traton family, ”said Traton CEO Matthias Gründler.