VWAGY - Why Navistar Stock Just Dropped 18.5%
All year long, Germany's Volkswagen (OTC: VWAGY) has been trying to buy America's Navistar International (NYSE: NAV) truck company in an international merger . In January, Volkswagen offered to pay $35 for each outstanding share, sending Navistar stock soaring . Then last month, Volkswagen hiked its bid to $43 a share, sending Navistar stock up another 20% .
Today though, Navistar is in full-speed reverse, rolling downhill 18.5% as of 12:20 p.m. EDT. Why?
Image source: Getty Images.
For further details see:
Why Navistar Stock Just Dropped 18.5%