Navistar International Corporation issued a response from its Board of Directors to the letter it received from TRATON SE on October 14.
Following discussions between Navistar and TRATON, Navistar’s Board of Directors confirmed that it would be prepared to move forward with a transaction in which TRATON would acquire Navistar for $44.50 per share in cash. In a letter to TRATON, Navistar’s Board asked TRATON to confirm that a price of $44.50 per share is a basis for finalization of definitive agreements. Navistar’s Board confirmed that
JP Morgan and PJT Partners are acting as Navistar’s financial advisors. Sullivan & Cromwell LLP is providing legal counsel. Brunswick is providing communication counsel.