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Key investors buy more Navistar stock

Jason Cannon July 19, 2013

Billionaire investor Carl Icahn bought 646,289 additional shares if Navistar International Corp. this week for $21,212,240, according to an SEC filing obtained by minyanville.com.

Mark Rachesky, a director of the company, bought 657,878 shares for $20,934,558.

Rachesky bought more shares, but at a lower stock price.

Icahn now owns 16.55 percent of the company and, combined, he and Rachesky own more than 30 percent of Navistar’s stock.

Earlier this week, Navistar announced it had amended agreements with Ichan and Rachesky, allowing each man to designate two nominees to the company’s board of directors.

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