Mergers and Acquisitions

Icahn, ex-protege fuel trucking-merge drama

Volkswagen’s truck-manufacturing subsidiary Traton — which last month raised its offer for Navistar to $43 a share, up from a pre-pandemic overture of $35 a share in January — is conducting diligence on Navistar and is expected to finish by the end of this week, sources close to the situation said.