A formal announcement could come as as soon as Tuesday, according to Reuters’ sources.
Volkswagen has reportedly agreed to pay $16 per share for Navistar stock, an almost 14 percent markup from Friday’s closing share price of $14.07, according to the Wall Street Journal – a price which also getsVolkswagen two seats on Navistar’s board.
Officials for Navistar and Volkswagen could not be reached for comment Tuesday morning. This story will be updated as it develops.
Jason Cannon has written about trucking and transportation for more than a decade and serves as Chief Editor of Commercial Carrier Journal. A Class A CDL holder, Jason is a graduate of the Porsche Sport Driving School, an honorary Duckmaster at The Peabody in Memphis, Tennessee, and a purple belt in Brazilian jiu jitsu. Reach him at [email protected].Â
