Icahn Buys 9.8% Share in Navistar

[DriVer]

Billionaire investor buys 9.8 percent stake in Navistar

Kelly Cauthorn posted on October 14, 2011 14:50
RV D@aily Report


NEW YORK, N.Y. -- The Associated Press reports that billionaire investor Carl Icahn has bought a 9.8 percent stake in Navistar International Corp. The Associated Press reports that between Aug. 23 and Thursday, Icahn and affiliated funds bought 7.1 million shares for $118.1 million, according to documents filed with the Securities and Exchange Commission. The investor believed the shares were undervalued, reports the Associated Press.

For the complete story from the Associated Press, click here.

[RVNeophytes2]

[QUOTE=DriVer;983556]Billionaire investor buys 9.8 percent stake in Navistar


Too bad. I'll guess that he'll strip the unprofitable parts of the company first.

Anyone wish to guess which?

Wall Street has already anticipated Icahn driven cost-cutting and selling, if you look at their reaction to the purchase.

Consider what this guy did to TWA, Texaco and US Steel. So, is Monaco destined to become the next Studebaker? Jeesh, I hope not.

[DriVer]

Quote:

Originally Posted by RVNeophytes2 Too bad. I'll guess that he'll strip the unprofitable parts of the company first..

Do you think that with a 9.8% position that he will have that kind of horsepower?

[dreamer]

My condolances to the Navistar employees.

dreamer.

[Ronnie Bledsoe 2006 Dutchstar 43']

With 9.8 % he most likely is in the drivers seat unless someone can pull together a larger %. He will sell off unprofitable assets, raid the retirement fund and get out. He attempted a raid on Lockheed in the late 70's only to be thwarted by management and employees who pulled together to form a majority shareholder group. That needs to be done at Navistar if they want to protect theit company.

[RVNeophytes2]

Quote:

Originally Posted by DriVer Do you think that with a 9.8% position that he will have that kind of horsepower?

That's what he does. Here are examples, there are countless others:

• Clorox
• Yahoo
• Lionsgate
• Genzyme
• Visix, MedImmune, PanAm, Tropicana, WCI, E-11 Holdings, Lowestfare.com, Motorola, Blockbuster

These articles and hundreds of others show that he can take control with as little as 4% stake in a company. Very easy to verify, in any business journal.

[DriVer]

Icahn's Truck Ride Is an Accident Waiting to Happen

NEW YORK (TheStreet) 10/21/11 - A possible merger between two of Carl Icahn's major investments -- big-rig manufacturers Oshkosh(OSK_) and Navistar(NAV_) -- may end in the flames and twisted steel of a truck crash if his history is any guide .....

More information from "The Street"

[RVNeophytes2]

Quote:

Originally Posted by DriVer Icahn's Truck Ride Is an Accident Waiting to Happen NEW YORK (TheStreet) 10/21/11 - A possible merger between two of Carl Icahn's major investments... may end in the flames and twisted steel of a truck crash if his history is any guide ...

I was initially thinking the same thing as you, D. I mean, what can one guy do with a small stake like that. Well, I'd never understood Carl's destructive and self-serving ways, nor his potency. Sure, he's a legendary dark force in the airline biz; but, I had no idea this corporate Darth Vader manages to slash and burn with a 2" lightsaber...

My favorite quote from the article: Normally, Icahn takes giant 5%-to-10% plus interests in companies sometimes over $1 billion and pushes for a board seat, company sale or breakup.

[GandE]

i KKKKKKAAAAAHHHHHNNNNN!!!!!!!


Sorry. I couldn't resist.