A little-known trucking company surges nearly 58% after Volkswagen makes a surprise offer to buy
US truck manufacturer Navistar's shares shot up in pre-market trading Friday, after Volkswagen said Thursday it could buy the company in cash.
The truck manufacturing industry struggled in 2019, and Navistar's stock trailed the S&P 500. It started out the new year on a decline.Hardly a household name, truck manufacturer Navistar's stock rose to sudden popularity Thursday, continuing into Friday's pre-market trading. Volkswagen, which already owns a 16.76% stake in Navistar, said it would pay entirely in cash. The two companies are some of the biggest in the truck-making industry.
The offer comes at a time when the broader trucking manufacturing industry is in a slump, with new orders in decline,. In its most recent earnings, Navistar's fourth quarter revenue declined versus the year prior. The stock started the year sliding downwards after it trailed the S&P 500 throughout 2019.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NFL Hall Of Famer Chris Doleman Dead at 58 After Battle With Brain CancerThe Minnesota Vikings legend has died after a lengthy battle with brain cancer.
Read more »
Volkswagen truck unit Traton offers $2.9 billion to take over NavistarVolkswagen AG's Traton commercial truck unit said on Thursday it ...
Read more »
E-commerce’s Surprise Winner: Little-Known Crown Equipment Supplies Forklifts To Amazon, Target, Home DepotFamily-owned Crown Industries has become one of America's largest private companies supplying forklifts and other machines to Amazon, Home Depot and Target, among others.
Read more »
E-commerce’s Surprise Winner: Little-Known Crown Equipment Supplies Forklifts To Amazon, Target, Home DepotFamily-owned Crown Industries has become one of America's largest private companies supplying forklifts and other machines to Amazon, Home Depot and Target, among others.
Read more »
E-commerce’s Surprise Winner: Little-Known Crown Equipment Supplies Forklifts To Amazon, Target, Home DepotFamily-owned Crown Industries has become one of America's largest private companies supplying forklifts and other machines to Amazon, Home Depot and Target, among others.
Read more »