Navistar Shareholder OK Traton Acquisition

By Mike Brezonick02 March 2021

Navistar International Corp. announced that at its annual meeting of stockholders held today, stockholders approved Traton’s proposal to acquire all of the outstanding common shares of Navistar at a price of $44.50 per share in cash, or approximately $4.7 billion.

Traton, which currently owns 16.7% of Navistar shares, is now close to completing an acquisition process that dates back to the spring of 2017. The transaction remains subject to regulatory approvals and the satisfaction of customary closing conditions. Navistar continues to expect that the transaction will be completed in mid-2021.

Navistar stockholders also voted at the meeting to approve all other proposals, including two non-binding proposals regarding executive compensation arrangements, the election of Navistar directors, and the ratification of Navistar’s independent registered public accounting firm.

MAGAZINES
NEWSLETTER
Delivered directly to your inbox, Diesel News Network newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
CONNECT WITH THE TEAM
Mike Brezonick VP, Power Division Tel: +1 262 754 4112 E-mail: mike.brezonick@khl.com
Alister Williams VP Sales Tel: +1 843 637 4127 E-mail: alister.williams@khl.com
CONNECT WITH SOCIAL MEDIA
Latest News
Danfoss finalises Eaton hydraulics deal
Move will see the Danfoss Group grow in size by a third
Daimler OKs truck spin-off, e-manufacturing sites
Truck business to become an independent company, German plants solidify electrification portfolios
Dana, Switch Mobility partner on electric commercial vehicles
Dana to invest in vehicle manufacturer as well as supply key components