VW plots US truck expansion with $2.9 billion Navistar offer
Volkswagen offered to buy the rest of Navistar International Corp. in a $2.9 billion bid to secure a bridgehead in the U.S. heavy-truck market and step up its challenge to Daimler and Volvo. The deal comes amid a jittery market, with heavy-truck makers preparing for a downturn after years of growth. Navistar, truck-engine maker Cummins Inc. and supplier Meritor Inc. announced thousands of job cuts late last year.
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