"This merger agreement, which has yet to be worked out, would be subject to final approval by the boards of Traton and Volkswagen AG, and by the board of directors of Navistar and the company's stockholders." In a statement, Navistar said: "Navistar International Corporation today confirmed that it has received a revised proposal from Traton SE to acquire Navistar for $43 per share in cash. "Navistar's board of directors and management team are committed to exploring all avenues to maximize value. "Consistent with its fiduciary duties, the board will carefully review the revised proposal from Traton in consultation with its advisors to determine the course of action that it believes is in the best interests of the company and its stakeholders. "Navistar shareholders do not need to take any action at this time, and there is no assurance that any transaction with Traton will occur or be consummated.