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.
FILE PHOTO: A flag of Volkswagen's truck unit Traton SE is pictured at Frankfurt Stock Exchange during Traton's initial public offering in Frankfurt, Germany, June 28, 2019. REUTERS/Ralph OrlowskiREUTERS: 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 US$44.50 per share, the statement said. Traton already holds about 16.7per cent stake in Navistar.Traton last month sweetened its takeover bid for Navistar from US$43 per share to US$44.50 per share.