VW Truck Division Signals Possible Takeover of U.S.'s Navistar [Bloomberg Business News]
Navistar Intl Corp (NAV)
Last navistar intl corp earnings: 3/4 06:25 am
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Source: Bloomberg Business News
Any move wouldn’t depend on proceeds from a possible IPO Increased ties could be part of German manufacturer’s revamp Volkswagen AG’s heavy-vehicle division is open to a takeover of U.S. affiliate Navistar International Corp. as the German company seeks scale to compete with global leaders Daimler AG and Volvo AB . Volkswagen Truck & Bus, which is changing its structure to access capital markets, might consider boosting its existing stake in Navistar, once any stock or debt sale is completed, Chief Financial Officer Matthias Gruendler said at a Munich press conference. Any purchase could be funded by parent Volkswagen and not depend share or bond proceeds gained by the truck unit, he said. A takeover “would theoretically be possible,” Gruendler said, outlining a potential price tag of about “3 billion to 4 billion,” without specifying dollars or euros. While he declined to comme
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