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Navistar Receives Proposal From TRATON Valued At $2.9 Bln - Quick Facts

Navistar International Corp. (NAV) has received an unsolicited proposal from TRATON SE to acquire the company for $35 per share. The company said its Board, in consultation with its financial and legal advisors, will review the proposal. Navistar advised its shareholders to take no action.

TRATON already holds a share of 16.8% in Navistar. If the proposal is accepted, TRATON will become the sole owner of Navistar. TRATON said Volkswagen AG has signalled its general intention to provide funds for the financing of an offer.

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