Traton Is Willing To Increase Its Bid For Navistar

Volkswagen subsidiary Traton is willing to increase its bid for truck manufacturer Navistar to $43 per share, as Carl Icahn and former protégé Mark Rachesky squabble over the price. Traton made a $35 per share takeover offer to purchase Navistar in January, and Rachesky reportedly told some of the company’s directors that he wanted more than $70 per share.Q2 2020 hedge fund letters, conferences and moreIcahn Did Not Expect Traton To Double Its Bid For NavistarIcahn and other directors racknowledge that a sweetened bid should be made but did not expect Traton to double it, sources cited by the …

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HEDGE accordingly