Navistar International (NAV) Ramps After Carl Icahn Takes Nearly 10% Stake
Tweet Send to a Friend
Get Alerts NAV Hot Sheet
Up)
Trade NAV Now!
Shares of Navistar International (NYSE: NAV) are on the rise after-hours Thursday after activist investor Carl Icahn disclosed a 9.8%, or 7,111,426 share, stake in the company. His firm did not hold shares at the end of the latest quarter ending June 30, 2011.
Icahn said he acquired the shares in the belief that they were undervalued at current levels. He also indicated he has had conversations with management and will seek to have addition conversations. They also discussed the possibility of adding a person suggested by Icahn to the Board of Directors, although no agreement has been reached.
For more notable holders of Navistar International stock click here. For more information on Carl Icahn click here.
Shares of Navistar last traded up 5 percent to $40.70.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Icahn said he acquired the shares in the belief that they were undervalued at current levels. He also indicated he has had conversations with management and will seek to have addition conversations. They also discussed the possibility of adding a person suggested by Icahn to the Board of Directors, although no agreement has been reached.
For more notable holders of Navistar International stock click here. For more information on Carl Icahn click here.
Shares of Navistar last traded up 5 percent to $40.70.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Kyle Bass 13G Shows 9.7% Stake in Dex Media (DXM)
- Is Sony (SNE) Thinking Change or Being Polite?
- Viking Global Investors Raises Stake in Intuitive Surgical, Inc. (ISRG) to 5.1%
Create E-mail Alert Related Categories
13Ds, Hedge FundsRelated Entities
Carl Icahn
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
