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Navistar, Traton deal given final approval from regulators Navistar on Wednesday said it has received all regulatory approvals needed to proceed with a previously announced merger with Dusk Inc., a wholly owned indirect subsidiary of Traton SE. The merger is expect to close on July 1, subject to the satisfaction of customary closing conditions. Navistar, the manufacturer of International Trucks, and Traton, Volkswagen s commercial truck arm, in November entered into a merger agreement in which Traton would acquire all of the outstanding common shares of Navistar for $44.50 per share in cash. Traton previously held 16.7% of Navistar, which it acquired via a procurement joint venture and strategic technology and supply collaboration in 2016. Navistar stockholders approved the buyout deal at its annual meeting in March. ....
Regulators give final approval for Navistar, Traton merger Navistar on Wednesday said it has received all regulatory approvals needed to proceed with a previously announced merger with Dusk Inc., a wholly owned indirect subsidiary of Traton SE. The closing date of the merger is expected to be on July 1, subject to the satisfaction of customary closing conditions. Navistar, the manufacturer of International Trucks, and Traton, Volkswagen s commercial truck arm, in November entered into a merger agreement in which Traton would acquire all of the outstanding common shares of Navistar for $44.50 per share in cash. Traton previously held 16.7% of Navistar, which it acquired via a procurement joint venture and strategic technology and supply collaboration in 2016. Navistar stockholders approved the buyout deal at its annual meeting in March. ....
Navistar Receives All Regulatory Approvals Necessary To Proceed With The Closing Of The Merger With TRATON SE prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
VW's Traton approved by regulators to acquire Navistar overdriveonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from overdriveonline.com Daily Mail and Mail on Sunday newspapers.
Share this article Share this article LISLE, Ill., April 26, 2021 /PRNewswire/ Navistar International Corporation ( Navistar ) (NYSE: NAV), a leading U.S. truck maker, today announced that it delivered a Notice of Conditional Full Redemption (the Conditional Notice ) to the holders of its outstanding 9.500% Senior Secured Notes due 2025 (the Notes ). The Conditional Notice called for redemption on June 25, 2021 (the Redemption Date ) of all the currently outstanding $600,000,000 aggregate principal amount of the Notes, subject to the satisfaction on or prior to the Redemption Date of the Merger Condition (as defined below). The redemption price of the Notes is 107.125% of the principal amount redeemed, which amount is equal to $1,071.25 per $1,000 principal amount of the Notes, plus accrued and unpaid interest up to, but not including, the Redemption Date. ....