Munich / Lisle (dpa) - The Volkswagen truck and bus subsidiary Traton has to saddle up in the hanging game for the long-planned takeover of the US truck manufacturer Navistar.
Volkswagen now wants to put down 43 US dollars per share instead of 35 dollars as announced in January.
Volkswagen and Traton announced this on Thursday.
VW is now offering a total of 3.6 billion dollars (3.05 billion euros) to get a foot in the door on the important North American commercial vehicle market.
Navistar said after the increased offer on Thursday that the company wanted to examine the offer.
The takeover talks had stalled because of the Corona crisis.
Navistar major shareholder and US star investor Carl Icahn was reportedly not satisfied with the price either.
In September 2016, the heavy VW truck division joined the Americans in order not to leave the field in the USA to rival Daimler.
Traton is the holding company for the MAN and Scania brands as well as the Brazilian VW Caminhoes e Onibus.
Daimler is the world market leader in heavy trucks and has a strong presence in the US market, above all with the Freightliner brand.
Initially, VW and Navistar cooperated on supplier parts in order to reduce costs.
Navistar was recently in the red, but had problems getting into the profit zone even before the Corona crisis.
Speculation recently arose in industrial circles that Traton wanted to resume takeover talks with the US company after the negotiations had been on hold due to the corona.
VW Group Chief Financial Officer Frank Witter said at the end of July that little had happened recently in terms of Navistar talks.
In July, VW commercial vehicle board member Andreas Renschler had to vacate his position as Traton boss in a larger management rogue at VW.
“We still believe that a complete merger of Traton and Navistar offers convincing strategic advantages for both sides,” said his successor Matthias Gründler.
“That is why we are reaffirming our interest in this transaction despite the current situation caused by the Covid 19 pandemic,” said the Traton CEO.
If the proposal is accepted, Traton would become the sole owner of Navistar, according to the parent company from Wolfsburg.
VW also wants to help the Munich-based company with financing.
VW currently holds 16.8 percent of Navistar through Traton.
Carl Icahn's share, known as a contentious, so-called activist investor, is slightly higher.
The financial investor MHR also holds a similarly high share as the two.
Traton assumes that the increased offer will now be examined by the members of the Navistar board of directors.
The offer is still subject to the fact that the audit is satisfactory and that Traton and Navistar can agree on a merger agreement.
© dpa-infocom, dpa: 200910-99-509888 / 2