US truck maker Navistar said today all regulatory approvals necessary to proceed with the previously announced merger with Dusk, a wholly owned indirect subsidiary of Traton SE had been received.
The closing date of the merger is expected to be tomorrow, 1 July, 2021, subject to the satisfaction of customary closing conditions.
As previously announced, on 7 November, 2020, Navistar, Traton and Dusk entered into a merger agreement under which Traton would acquire all of the outstanding common shares of Navistar it did not already own for US$44.50 per share in cash, which Navistar stockholders approved at their annual meeting on 2 March, 2021.
“Once the merger with is complete, Navistar will be part of the Traton family and thus support its aim to become a global champion of the transportation industry,” the truck maker said in a statement.