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Why Navistar Stock Just Dropped 18.5%

TheMotleyFool

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All year long, Germany's Volkswagen (OTC: VWAGY) has been trying to buy America's Navistar International (NYSE: NAV) truck company in an international merger. In January, Volkswagen offered to pay $35 for each outstanding share, sending Navistar stock soaring. Then last month, Volkswagen hiked its bid to $43 a share, sending Navistar stock up another 20%.

Today though, Navistar is in full-speed reverse, rolling downhill 18.5% as of 12:20 p.m. EDT. Why?

Image source: Getty Images.

Source Fool.com

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