Tag: TRATON

Navistar to Discuss Revised Acquisition Proposal with Traton

In a purchase that may shake up the smartphone manufacturing landscape, Nvidia Corp. announced Sunday, September 13 it had agreed to purchase Arm Ltd. from SoftBank Group Corp. for $40 billion. The deal will see Nvidia, a U.S.-based tech firm that specializes in the design of graphics-processing chips, with Arm, which designs processor architecture key to the operation of small computers like smartphones. Softbank, a Japanese technology conglomerate, purchased Arm in 2016 for $32 billion.

The move is likely to make a stir among smartphone manufacturers. Arm owns and license a set of instructions that almost all smartphone companies lease and base their own chips on. Phones produced by Apple, Huawei, Samsung and Qualcomm all use Arm-based chips, which are simpler than traditional processing units but draw less power.

The current terms of the agreement, scheduled to close by March 2022, will see Nvidia pay Softbank $21.5 billion in stock

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Navistar Board Of Directors Issues Statement Regarding Revised Proposal From TRATON

LISLE, Ill., Sept. 14, 2020 /PRNewswire/ — Navistar International Corporation (NYSE: NAV) today issued a statement from its Board of Directors regarding the revised proposal from TRATON SE.

Navistar’s Board of Directors, after careful consideration with the assistance of its financial and legal advisors, has unanimously concluded that while TRATON’s revised proposal of $43.00 per share significantly undervalues the Company and substantial synergies from a combination, it does represent a starting point for further exploring the possibility of a transaction. TRATON has developed a strong strategic relationship with the Company in recent years, and, in light of the 23% increase in their proposal, the Board believes the best way for TRATON to appreciate the true value of a potential combination is to allow it to conduct due diligence and engage in further synergy discussions with the Company.

Navistar does not intend to make any additional comments regarding the proposal,

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Navistar Confirms Receipt Of Revised Proposal From TRATON

LISLE, Ill., Sept. 10, 2020 /PRNewswire/ —┬áNavistar International Corporation (NYSE: NAV) (“Navistar” or “the Company”) today confirmed that it has received a revised proposal from TRATON SE to acquire Navistar for $43 per share in cash.

Navistar’s Board of Directors and management team are committed to exploring all avenues to maximize value. Consistent with its fiduciary duties, the Board will carefully review the revised proposal from TRATON in consultation with its advisors to determine the course of action that it believes is in the best interests of the Company and its stakeholders.

Navistar shareholders do not need to take any action at this time, and there is no assurance that any transaction with TRATON will occur or be consummated. Navistar does not intend to make any additional comments regarding the proposal unless and until it is appropriate to do so, or a formal agreement has been reached.

JP

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