Cohen's SAC Capital Discloses 5% Stake in Navistar (NAV)
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In a 13G filing after the close on Navistar International (NYSE: NAV) after the close, Steven Cohen's SAC Capital disclosed a 5% stake (3,530,450 shares) in the company. The firm did not show a stake in Navistar at the quarter ended 03/31/08.
SAC is a multi-strategy, private asset management firm founded by Steven A. Cohen in 1992 with 9 employees and $25 million in assets under management. As of September 2007, the firm has grown to over 800 employees with approximately $14 billion in assets.
Navistar International is a Fortune 500 Global Company with roots stemming back over 175 years produce International brand commercial and military trucks, MaxxForce brand diesel engines, IC brand school and commercial buses, and Workhorse brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine parts and service.
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