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MarketScreener Homepage  >  Equities  >  Nyse  >  Navistar International Corporation    NAV

NAVISTAR INTERNATIONAL CORPORATION

(NAV)
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Navistar Sets $44.50/Share Price Tag for Traton Deal

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10/16/2020 | 10:59am EDT

By Colin Kellaher

Navistar International Corp. on Friday said it is willing to be acquired by Volkswagen AG's Traton SE unit, but at a higher price than the offer currently on the table.

The Lisle, Ill., maker of trucks and buses said it is prepared to move forward with a transaction in which Traton would pay $44.50 a share in cash, which would value Navistar at roughly $4.43 billion.

Traton, which already owns a 16.7% stake in Navistar, is currently offering $43 a share, up from an initial bid of $35. The company earlier this week said its proposal would expire Friday unless it Navistar indicated a willingness to engage.

Navistar said that following talks with Traton, its board asked the German truck maker to confirm that a price of $44.50 a share is a basis for a definitive agreements, adding that a deal at that price has the support of two of its largest shareholders, including billionaire investor Carl Icahn, who owns a 16.8% stake, and MHR Fund Management, with a 16.3% interest, according to data from FactSet.

Shares of Navistar were recently up 20.9% to $42.83, while Traton shares gained 1.1% to EUR17.93.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

10-16-20 1058ET


Stocks mentioned in the article
ChangeLast1st jan.
ICAHN ENTERPRISES L.P. 0.93% 51.16 Delayed Quote.-17.61%
NAVISTAR INTERNATIONAL CORPORATION -0.32% 43.24 Delayed Quote.50.38%
TRATON SE -0.10% 17.908 Delayed Quote.-25.04%
VOLKSWAGEN AG -0.62% 138.42 Delayed Quote.-20.97%
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Financials (USD)
Sales 2020 7 348 M - -
Net income 2020 -89,5 M - -
Net Debt 2020 2 803 M - -
P/E ratio 2020 -48,4x
Yield 2020 -
Capitalization 4 318 M 4 318 M -
EV / Sales 2020 0,97x
EV / Sales 2021 0,83x
Nbr of Employees 12 189
Free-Float 80,0%
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Technical analysis trends NAVISTAR INTERNATIONAL CORPORATION
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 42,38 $
Last Close Price 43,39 $
Spread / Highest target 15,2%
Spread / Average Target -2,34%
Spread / Lowest Target -37,8%
EPS Revisions
Managers
NameTitle
Persio V. Lisboa President, Chief Executive & Operating Officer
Troy A. Clarke Executive Chairman
Walter Gerhardt Borst Chief Financial Officer & Executive Vice President
Julie Ragland Chief Information Officer & Senior Vice President
Vincent J. Intrieri Lead Independent Director
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