The merger of Navistar International Corp. (NYSE: NAV) and Volkswagen AG’s TRATON Group (8TRA.S.DX) drew closer Tuesday when Navistar shareholders approved being bought out for $44.50 per share.
TRATON prepared for the vote by transferring its 16.7% stake in Navistar to a U.S. subsidiary that could assume Navistar’s NYSE seat after the merger closes in mid-2021 pending regulatory approvals. Navistar will be delisted shortly after the closing, a company spokeswoman said..
The vote in favor of the...
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