Billionaire investor Carl Icahn's big bet on the U.S. heavy-truck industry remains in the spotlight as the deadline nears for investors at Navistar International Corp to nominate new members for the board of directors.Navistar's deadline -- set for Nov. 15 -- comes about a month following Icahn's purchase of a nearly 10 percent stake in the Warrenville, Illinois, truck and engine maker.Navistar has had discussions with Icahn in recent weeks. The company extended its board nomination deadline by about a month after Icahn first publicly disclosed his investment. He expressed a desire for potential board seats in that Oct. 13 disclosure.Icahn's interest in Navistar has received increased interest given the similar stake he holds in rival Oshkosh Corp . Last week, Icahn nominated six of his associates for Oshkosh's board, heightening speculation that he is hatching a plan to merge that company with Navistar.
Navistar International Corporation (NIC) is a holding company, whose principal operating subsidiaries are Navistar, Inc. Shares of NAV traded higher by 1.84% or $0.75/share to $41.50. In the past year, the shares have traded as low as $30.59 and as high as $71.49. On average, 1590220 shares of NAV exchange hands on a given day and today's volume is recorded at 270498.
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