Navistar merger with Traton approved - Just Auto
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Navistar merger with Traton approved

By Graeme Roberts 30 Jun 2021

Regulators are happy so the Navistar merger with Traton can proceed.

US truck maker Navistar said today all regulatory approvals necessary to proceed with the previously announced merger with Dusk, a wholly owned indirect subsidiary of Traton SE had been received.

The closing date of the merger is expected to be tomorrow, 1 July, 2021, subject to the satisfaction of customary closing conditions.

As previously announced, on 7 November, 2020, Navistar, Traton and Dusk entered into a merger agreement under which Traton would acquire all of the outstanding common shares of Navistar it did not already own for US$44.50 per share in cash, which Navistar stockholders approved at their annual meeting on 2 March, 2021.

“Once the merger with is complete, Navistar will be part of the Traton family and thus support its aim to become a global champion of the transportation industry,” the truck maker said in a statement.