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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

12 mins ago - Health

COVID cases and deaths keep falling

Expand chart
Data: N.Y. Times; Cartogram: Kavya Beheraj/Axios

America’s coronavirus outbreak is rapidly improving as the Delta wave recedes, and vaccines for kids — which could become available within weeks — will help the situation improve even further.

By the numbers: Nationwide, the U.S. is now averaging about 79,000 new cases per day — a 22% drop over the past two weeks.

4 hours ago - Health

India crosses 1 billion COVID vaccinations milestone

A health worker inoculates a COVID-19 vaccine dose to a man wearing a face mask of Prime Minister Narendra Modi in Beawar, India, in September. Photo: Sumit Saraswat/Pacific Press/LightRocket via Getty Images

India's Prime Minister Narendra Modi announced Thursday that the country's health workers have now administered more than 1 billion COVID-19 vaccines doses.

Of note: While this is a significant milestone for the country of 1.4 billion, which has been devastated by the coronavirus, only about 30% of the eligible population has been fully vaccinated against the virus, per AP. Roughly 75% has received at least one dose.

Trump says he plans to launch new social media network in 2022

Photo: Chris Delmas/AFP via Getty Images

Former President Trump on Wednesday announced plans to launch a social media network called "Truth Social," and that it would go public via a SPAC.

Why it matters: Most ex-presidents are focused on their legacies, by creating presidential libraries or engaging in philanthropic endeavors. Trump, however, remains consumed by social media.