Volkswagen AG's Traton commercial truck unit said on Thursday it ...
FILE PHOTO: A flag of Volkswagen's truck unit Traton SE is pictured at Frankfurt Stock Exchange during Traton's initial public offering in Frankfurt, Germany, June 28, 2019. REUTERS/Ralph Orlowski
Volkswagen has made its interest in buying the remainder of Navistar clear since acquiring an initial 16.6% stake, which has since grown to nearly 16.8%, in 2016. Traton and Navistar have been collaborating on purchasing and certain technology developments, aiming to cut annual costs by $200 million a year.
Rachesky and another MHR executive, Raymond Miller, sit on Navistar’s board, as does a representative of Icahn’s interests. Traton Chief Executive Andreas Renschler and the German truck maker’s chief financial officer, Christian Schulz, also have seats on Navistar’s board.
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