Navistar International (NAV) Ramps After Carl Icahn Takes Nearly 10% Stake
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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.
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.
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