Navistar International Corp. a leading U.S. truck maker, announced that, at its annual meeting of stockholders held yesterday, stockholders approved TRATON’s proposal to acquire all of the outstanding common shares of Navistar at a price of $44.50 per share in cash. The transaction remains subject to regulatory approvals and the satisfaction of customary closing conditions. Navistar continues to expect that the transaction will be completed in mid-2021.
Navistar stockholders also voted at the meeting to approve all other proposals, including two non-binding proposals regarding executive compensation arrangements, the election of Navistar directors, and the ratification of Navistar’s independent registered public accounting firm.
Navistar will file the final vote results for the annual meeting with the U.S. Securities and Exchange Commission on a form 8-K.