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Volkswagen (PC) USOTC:VLKAY Other OTC Common Stock
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Navistar Shares Jump as Volkswagen Mulls Deal -- Market Mover

16/04/2018 1:58pm

Dow Jones News


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Navistar International Corp. (NAV) shares popped 6.7% during premarket trading after Volkswagen AG's commercial-vehicles business said it is considering increasing its stake in the U.S. truck company to more than 17%. The move which would force the company to make an offer for all of Navistar. Volkswagen's commercial truck unit already owns a stake just shy of 17%. Navistar was valued at about $3.66 billion as of last week's close. Before the premarket gains, Navistar shares had fallen 14% to $37.06 so far this year while the S&P 500 has dropped 0.7%.

 

(imani.moise@wsj.com; @MoiseNoise)

 

(END) Dow Jones Newswires

April 16, 2018 08:43 ET (12:43 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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