Navistar boss suggests he’ll entertain buyout offers

CHICAGO — Navistar International top exec hinted the truck and engine maker may be open to a buyout.

According to a recent Reuters report, Navistar CEO Daniel Ustian made the comment during a conference call after an analyst asked whether any other parties had expressed interest in taking the company private.

“If you’ve got a lot of money, come over and see us,” he quipped.

The question came up following Navistar’s announcement Friday that it will not meet its own deadline for filing delayed financial statements.

Navistar, parent company of International Truck & Engine, anticipates it won’t complete the restatement until after Feb. 1.

Earlier this year, an top executive from German truckmaker MAN said his company might have interest in buying a stake in Navistar, which MAN already has a engine development alliance with.

Meanwhile, the New York Stock Exchange announced on Friday plans to suspend trading of Navistar stock by Dec. 20 and begin delisting procedures.

The truckmaker intends to contest the decision.

— with files from Reuters


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