Navistar-GM truck deal dissolves

By James P. Miller | Tribune staff reporter Navistar International Corp.'s tentative agreement to acquire General Motors Corp.'s medium-truck operation has run off the road because of significant marketplace and economic changes, the two companies disclosed Wednesday. The Warrenville-based truck and engine maker originally announced in December that it had reached a non-binding memorandum of understanding with GM. Financial details have never been released, and the accord Navistar spelled out at the time was far from a conventional corporate asset sale. Navistar wasn't to acquire the Flint, Mich factory where GM makes most of its medium-duty trucks, for example, but instead would acquired certain specialized GM truck-production machinery and related assets, along with intellectual-property rights. Navistar had planned to... [read full story]