LISLE, Ill., June 30, 2021 /PRNewswire/ -- Navistar
International Corporation ("Navistar") (NYSE: NAV), a leading U.S.
truck maker, today announced all regulatory approvals necessary to
proceed with the previously announced merger with Dusk Inc.
("Merger Subsidiary"), a wholly owned indirect subsidiary of TRATON
SE ("TRATON"), were received. The closing date of the merger
is expected to be on July 1, 2021,
subject to the satisfaction of customary closing
conditions.
As previously announced, on November 7,
2020, Navistar, TRATON and Merger Subsidiary entered into a
merger agreement (the "Merger Agreement"), pursuant to which TRATON
would acquire all of the outstanding common shares of Navistar not
already owned by TRATON for a price of USD
44.50 per share in cash, which Navistar stockholders
approved at Navistar's annual meeting on March 2, 2021.
Once the merger with TRATON is complete, Navistar will be part
of the TRATON family and thus support TRATON in its aim to become a
global champion of the transportation industry.
About Navistar
Navistar International Corporation (NYSE: NAV) is a holding
company whose subsidiaries and affiliates produce
International® brand commercial trucks, proprietary
diesel engines, and IC Bus® brand school and
commercial buses. An affiliate also provides truck and diesel
engine service parts. Another affiliate offers financing services.
Additional information is available at www.Navistar.com.
Forward-Looking Statements
Certain statements in this press release, that are not purely
historical, may constitute forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, Section 21E
of the Securities Exchange Act of 1934, and the Private Securities
Litigation Reform Act of 1995, each as amended.
Forward-looking statements provide current expectations of
future events and include any statement that does not directly
relate to any historical or current fact. Words such as
"anticipates," "believes," "expects," "intends," "plans,"
"projects," or other similar expressions may identify such
forward-looking statements.
Actual results may differ materially from those discussed in
forward-looking statements as a result of factors, risks and
uncertainties over which Navistar has no control. These factors,
risks and uncertainties include, but are not limited to, the
following: (i) conditions to the completion of the proposed merger
may not be satisfied; (ii) the continued satisfaction of all
regulatory conditions to the closing; (iii) the occurrence of any
event, change or other circumstance that could give rise to the
termination of the Merger Agreement; (iv) the effect of the
announcement or pendency of the proposed merger on Navistar's
business relationships, operating results, and business generally;
(v) risks that the proposed merger disrupts Navistar's current
plans and operations and potential difficulties in Navistar's
employee retention as a result of the proposed merger; (vi) risks
related to diverting management's attention from our ongoing
business operations; (vii) potential and existing litigation that
may be instituted, or has been instituted, against Navistar or its
directors or officers related to the proposed merger or the Merger
Agreement; (viii) the amount of the costs, fees, expenses and other
charges related to the proposed merger; and (ix) such other factors
as are set forth in Navistar's periodic public filings with the
Securities and Exchange Commission ("SEC"), including but not
limited to those described under the headings "Risk Factors" and
"Forward Looking Statements" in its Form 10-K for the fiscal year
ended October 31, 2020, which was filed with the SEC
on December 17, 2020, the definitive proxy statement on
Schedule 14A, which was filed with the SEC on January 29,
2021, the quarterly report on Form 10-Q for the fiscal quarter
ended April 30, 2021 and in its other
filings made with the SEC from time to time, which are available
via the SEC's website at www.sec.gov.
Forward-looking statements reflect the views and assumptions
of management as of the date of communication with respect to
future events. Navistar does not undertake, and hereby disclaims,
any obligation, unless required to do so by applicable securities
laws, to update any forward-looking statements as a result of new
information, future events or other factors. The inclusion of any
statement in this communication does not constitute an admission by
Navistar or any other person that the events or circumstances
described in such statement are material.
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SOURCE Navistar International Corporation
