Apr 16, 2018

Volkswagen is interested in buying Navistar

Photo: Timothy A. Clary/AFP/Getty Images

Volkswagen said Monday morning that it's considering a full takeover offer for Illinois-based truck-maker Navistar International, in which VW already holds 16.9% stake.

Why it's a big deal: Because VW has been prepping a 2019 IPO for its trucks unit, and this disclosure suggests a continuation of that plan under new CEO Herbert Diess (who got the job just last week).

It appears the intent would be to buy Navistar with the IPO proceeds, although VW also could choose to make the purchase first as a pre-float bulk-up.

Navistar's current market cap is around $3.66 billion, with shares up around 5% as of this writing.

Bottom line per Bloomberg: "A stock sale by the heavy-vehicle division, which Evercore ISI estimates has as much as 30 billion euros ($37 billion) in assets, would mark the most significant structural shift so far for Volkswagen as the world’s biggest carmaker retools for massive change across its industry."

Go deeper

House passes bill to make lynching a federal hate crime

Photo: Aaron P. Bauer-Griffin/GC Images via Getty Images

The House voted 410-4 on Wednesday to pass legislation to designate lynching as a federal hate crime.

Why it matters: Congress has tried and failed for over 100 years to pass measures to make lynching a federal crime.

This year's census may be the toughest count yet

Illustration: Eniola Odetunde/Axios

Community leaders are concerned that historically hard-to-count residents will be even harder to count in this year's census, thanks to technological hurdles and increased distrust in government.

Why it matters: The census — which will count more than 330 million people this year — determines how $1.5 trillion in federal funding gets allocated across state and local governments. Inaccurate counts mean that communities don't get their fair share of those dollars.

Live updates: Coronavirus spreads to Latin America

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

Brazil confirmed the first novel coronavirus case in Latin America Wednesday — a 61-year-old that tested positive after returning from a visit to northern Italy, the epicenter of Europe's outbreak.

The big picture: COVID-19 has killed more than 2,700 people and infected over 81,000 others. By Wednesday morning, South Korea had the most cases outside China, with 1,261 infections. Europe's biggest outbreak is in Italy, where 374 cases have been confirmed.

Go deeperArrowUpdated 3 hours ago - Health