Navistar, Volkswagen agree on buyout terms with deal closure set for 2021

Updated Mar 3, 2021

Trucking news and briefs for Monday, Nov. 9, 2020: 

Navistar, VW agree to terms of buyout
Volkswagen’s commercial truck unit, Traton, and Navistar, the maker of International-brand trucks, on Saturday entered into a definitive merger agreement under which Traton will become the owner of all of outstanding common shares of Navistar that it does not already own – a deal totaling $3.7 billion.

Traton previously held 16.7% of Navistar, which it acquired via a procurement joint venture and strategic technology and supply collaboration in 2016, and agreed in principle on the terms of a $44.50 per-share buyout last month.

The transaction is set to close mid-next year and is subject to Navistar shareholder approval. Two major hurdles in Navistar’s approval process have already been cleared: The company’s two largest stakeholders, Icahn Capital LP and MHR Fund Management LLC, have agreed to vote their shares in favor of the transaction. â€“Jason Cannon

Super Dispatch car-haul load platform’s expansion, and eBOL and ePOD options
Super Dispatch, a car-haul load matching app/service, added “Touchless Delivery” early in the summer of 2020, in tandem with what CEO Bek Abdullayev called a growing amount of freight being matched through its fairly new load platform.

Now, the company and its baseline free app for document management is supporting shippers as well as carriers. The platform features a shipper Transportation Management System just as it does on the carrier side. The TMS connects to Super Dispatch’s load board, for an advanced marketplace that enables the carrier to book and track loads, manage drivers, access custom reporting, get instant billing and negotiate with shippers for better business outcomes, the company says. The platform includes the free carrier app equipped with advanced time-stamped inspections, electronic proof of delivery (ePOD), electronic bill of lading (eBOL) and access to loads and load offers from a mobile phone.

When the company introduced its ePOD and eBOL options, it noted the option helps to execute a touchless signature via text message to the pickup or delivery contact without exchanging paper and limiting personal close interaction. The bill of lading is automatically updated with the signature upon completion.

Partner Insights
Information to advance your business from industry suppliers
The ALL NEW Rand Tablet
Presented by Rand McNally

The Super Dispatch car-haul-focused load board has been in operation for a little over a year at this point, Abdullayev told Overdrive in an earlier interview. “In the carrier community,” he said, it’s gained popularity since it launched as a free driver app in 2015 with instant invoicing and eBOL. “It’s probably the most commonly used app among owner-operators in car hauling,” he added.

On the load board freight is available from dealers both brick-and-mortar and digital, brokers, wholesalers and vehicle OEMs.

Daimler recalls small number of Freightliner, Western Star trucks
Daimler Trucks North America is recalling a small number of Freightliner and Western Star trucks for incorrect information on the vehicle certification label, according to National Highway Traffic Safety Administration documents.

The recall affects approximately 53 model year 2020-2021 Freightliner 108SD, Freightliner 114SD, Freightliner Coronado, Western Star 4700 and Western Star 4900 trucks.

According to NHTSA, the vehicle certification label states a Gross Axle Weight Rating that exceeds the tire capacity rating, which could result in potential overloading of the axles.

Owners of affected trucks can contact DTNA customer service at 1-800-547-0712 with recall number FL-864. NHTSA’s recall number is 20V-634.

The Business Manual for Owner-Operators
Overdrive editors and ATBS present the industry’s best manual for prospective and committed owner-operators. You’ll find exceptional depth on many issues in the Partners in Business book, updated annually.
Partners in Business Issue Cover