Traton on Sept. 10 upped the ante in its offer to buy all outstanding shares of common stock of Navistar International Corp.
In a long-speculated move, Volkswagen's global truck and bus subsidiary, Traton, has made an unsolicited bid to acquire the rest of Navistar for $35 a share.
Commercial vehicle manufacturers Traton Group and Hino Motors have established a procurement joint venture to maximize the global procurement synergies between the two companies.
Volkswagen AG announced on May 13 that it is resuming preparations for an initial public offering of Traton SE, with progress to be made “depending on further developments on capital markets.”
Volkswagen has announced plans to postpone an initial public offering of the company’s trucking group Traton, formerly Volkswagen Truck & Bus, due to uncertain market conditions.
Volkswagen Truck & Bus has announced a new name, Traton Group, as it increases its independence and readies itself to raise funds for global expansion in commercial vehicles. Meanwhile, parent company Volkswagen AG is talking with Ford about possibly developing a line of commercial vehicles.