TRATON Group parent Volkswagen AG is willing to pay more than the $700 million sweetener in its latest $43-a-share offer for Navistar International Corp. (NYSE: NAV).
“Navistar’s board of directors and management team are committed to exploring all avenues to maximize value,” Navistar said in a statement Thursday acknowledging the new offer. TRATON offered $2.9 billion, or $35 a share, Jan. 30 for the 83% of Navistar it does not already own.
It appears unlikely the revised offer is enough for...
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