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U.S. House passes INVEST in America highway bill


Jul 1, 2021
Lawmakers ignored a coalition of groups call to the House Rules Committee early this week to jettison a provision to hike carriers minimum required liability insurance coverage amount from $750,000 to $2 million. The U.S. House of Representatives passed the INVEST in America Act with that provision intact, as well as a bevy of other trucking-related initiatives. 
As also previously reported, the bill if it became law would establish a grant program specifically for state truck parking projects, requiring 90% of funds to be used for actual parking capacity improvements and not for promoting parking availability information. 
The Owner-Operator Independent Drivers Association said the passage of the bill favors trial lawyers over the trucking industry and truck drivers with the insurance provision particularly, among other measures. ....

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VW's Traton approved by regulators to acquire Navistar


Navistar, Traton deal given final approval from regulators
Navistar on Wednesday said it has received all regulatory approvals needed to proceed with a previously announced merger with Dusk Inc., a wholly owned indirect subsidiary of Traton SE. The merger is expect to close on July 1, subject to the satisfaction of customary closing conditions. 
Navistar, the manufacturer of International Trucks, and Traton, Volkswagen s commercial truck arm, in November entered into a merger agreement in which Traton would acquire all of the outstanding common shares of Navistar for $44.50 per share in cash. Traton previously held 16.7% of Navistar, which it acquired via a procurement joint venture and strategic technology and supply collaboration in 2016. Navistar stockholders approved the buyout deal at its annual meeting in March.  ....

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Regulators give final ok to Navistar, Traton merger


Regulators give final approval for Navistar, Traton merger
Navistar on Wednesday said it has received all regulatory approvals needed to proceed with a previously announced merger with Dusk Inc., a wholly owned indirect subsidiary of Traton SE. The closing date of the merger is expected to be on July 1, subject to the satisfaction of customary closing conditions. 
Navistar, the manufacturer of International Trucks, and Traton, Volkswagen s commercial truck arm, in November entered into a merger agreement in which Traton would acquire all of the outstanding common shares of Navistar for $44.50 per share in cash. Traton previously held 16.7% of Navistar, which it acquired via a procurement joint venture and strategic technology and supply collaboration in 2016. Navistar stockholders approved the buyout deal at its annual meeting in March.  ....

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