Shares of Navistar, based in west suburban Lisle, soared after the market close Thursday after the maker of trucks and buses said Volkswagen subsidiary Traton SE offered to buy the remaining part of the company it doesn’t already own for $35 a share.
The Navistar board “will carefully review and evaluate the proposal,” the company said, according to MarketWatch.com. It does not plan on additional comments unless an agreement is reached.
Navistar shares ended Thursday’s regular trading session down 4 cents, at $24.07, but surged more than $12, or 50%, in after-hours trading.
Traton, which makes Scania and Man trucks, said it currently owns 16.8% of the company, according to Reuters.
