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July 20, 2000 9:36 AM, EDT

Freightliner LLC, a subsidiary of DaimlerChrysler AG, will acquire 100% of all issued and outstanding shares of Western Star Truck Holdings Ltd., the companies announced Wednesday.

Under the terms of the agreement, Freightliner will pay $42 (Canadian) per share and $670 million (Canadian) total for Western Star.

With the acquisition, DaimlerChrysler now controls Freightliner, Western Star and Sterling truck manufacturers. Western Star adds Class 8 commercial trucks to the company’s offer-ings. DaimlerChrysler also extended its hold in the North American bus market, adding Orion Bus Industries to Thomas Built Buses and Setra.