Reuters – Icahn Raises Navistar Stake

Carl Icahn increased his stake in truck and engine maker Navistar International Corp. to 11.87 percent, from the 9.99 percent the activist investor had reported in November. Icahn had pushed for a merger between Navistar and rival Oshkosh. Oshkosh management and shareholders rejected the idea.

(Reuters) – Carl Icahn increased his stake in truck and engine maker Navistar International Corp to 11.87 percent, from the 9.99 percent the activist investor had reported in November.

 

In a regulatory filing, Icahn said he owns 8.1 million shares of Navistar.

 

The additional shares were purchased on June 7, when Navistar shares fell as much as 28 percent after a quarterly loss.

 

Icahn had pushed for a merger between Navistar and rival Oshkosh. Oshkosh management and shareholders rejected the idea.