WARRENVILLE, Ill. — In a short notice posted on its Web site Wednesday, Navistar announced it would no longer acquire GM’s medium-duty truck business.
The company said it would allow a memorandum of understanding to take over the business expire, “due to significant marketplace and economic changes.”
The complete release said: “Due to significant marketplace and economic changes, GM and Navistar have decided not to renew the memorandum of understanding to purchase GM’s medium-duty truck business, which has expired. GM will continue to run the medium duty business as it has in the past, including providing sales, service and marketing support to GM dealers for its medium duty trucks. GM will continue to review strategic options for the business, including continued discussions with Navistar.”
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