Volkswagen's commercial truck unit, Traton, has agreed to buy the rest of truck manufacturer Navistar International, formerly a major Fort Wayne employer, for $3.7 billion in cash.
Traton, which owns 16.8% of Navistar, offered $44.50 per share to buy the rest of the company, looking to increase the German automaker's commercial truck market presence in the U.S.
Navistar said in a news release Friday that its board was “prepared to move forward” with the transaction and that the deal has the support of its two largest shareholders, Carl Icahn and hedge fund MHR Fund Management. The agreement follows months of negotiations after Traton made an unsolicited cash bid in January to buy out the other shareholders in Navistar for $2.9 billion, or $35 per share.
Navistar, formerly known as International Harvester, consolidated its operations in Lisle, Ill., a decade ago. It had employed about 1,400 at a Truck Design and Technology Center in Fort Wayne.
Onboard Fort Wayne program launches
Greater Fort Wayne Inc. is rolling out the Hoosier Hospitality for professionals arriving in Allen County.
The Onboard Fort Wayne program, launched Thursday, is designed to help newcomers adapt and thrive while helping companies retain top talent.
The program has three pillars: Welcome events where participants can meet other newcomers and learn about the community; “Community Connectors” who available for answering questions and guiding new residents to find their new local favorites; and online resources that serve as a 24/7 community guide.
The program is available to all GFW member companies and their new employees.
Eligible individuals can join by completing the interest form at OnboardFortWayne.com. Business leaders who would like to learn more or how to sponsor an event should contact Barry Schrock at firstname.lastname@example.org.
Job, Resource Fair set for Noble County
A Noble County Job and Resource Fair will be held from 8 a.m. to noon Oct. 23 at the Community Learning Center in Kendallville.
Emphasis is placed on attracting employees of a local LSC Communications plant, which local leaders recently learned would close, affecting 300 jobs.
The job fair will bring together nearly 40 local employers looking to fill more than 500 local jobs in printing, manufacturing, social services, finance, and health care – many paying between $15 and $25 per hour, a Friday news release said.
The event is free. Masks will be required.
Meijer Pickup to be free for holidays
Meijer announced Friday that it is offering its Meijer Pickup service at no charge as part of an initiative to provide customers multiple ways to conveniently and safely shop for the holidays.
The new program, which is free on orders over $50, does not require membership, offers the same as in-store pricing and access to weekly sales items, a news release said.
The service is now available at Meijer supercenters in six states, offering nearly 11 million households the flexibility to shop anytime, from anywhere, and have a Meijer team member select items for customers to pick up within a few hours. Customers place orders from their phone or desktop at Meijer Pickup.