Blue Bird Tender Offer to Buy up to $50 Million of its Capital Stock at $28

FORT VALLEY, Ga. — Blue Bird Corp. (NASDAQ: BLBD) announced today that it is commencing a tender offer to purchase up to $50 million in aggregate value of shares of its (i) common stock at a price of $28.00 per share, and (ii) 7.625% Series A Convertible Cumulative Preferred Stock, at a price of $241.69 per share, which is equal to the common stock offer price multiplied by 8.6318.

Navistar Appoints Schulz to Board of Directors

LISLE, Ill. — Navistar International Corp. (NYSE: NAV) today announced that Christian Schulz has been named to its board of directors, effective immediately. Schulz, 41, replaces Matthias Gründler, who previously resigned from the Navistar board after serving more than a year as a director. Schulz has been appointed to the board’s finance committee.

Cummins Makes $500 Million Accelerated Share Repurchase

COLUMBUS, Ind. — Cummins, Inc. (NYSE:CMI) today announced that it has entered into an accelerated share repurchase (ASR) agreement with Goldman, Sachs & Co. LLC. (GS&Co.) to repurchase $500 million of Cummins’ common stock. Today’s ASR is part of Cummins’ previously announced share repurchase plans authorized by the Board of Directors and is consistent with the company’s plans to return 75 percent of Operating Cash Flow to shareholders in 2018.

Transportation Services Co. Launches $50 Million Bus Buyback Program

CHARLESTON, S.C. — Industry-leading Fleet Management Company announced today that it has added a new capital program for school districts and transportation contractors to buy back aging fleets and replace them with new vehicles. The company says this may be a great opportunity for cash flow-focused contractors and budget-restricted school districts, to use leasing and financing solutions that can be customized to fit their student transportation program’s unique needs and circumstances.

School Bus Maker Blue Bird Oks $25M Stock Buy

Blue Bird Corp. (NASDAQ: BLBD; Macon, Ga.), an independent designer and manufacturer of school buses, announced yesterday, June 13, that its board of directors authorized the company to repurchase up to $25 million of its outstanding common stock and/or series A convertible preferred stock over the next 12 months.