Navistar avoids proxy battle by giving Icahn, Rachesky more say

Newswire

July 15 (Reuters) - Navistar International Corp signed a new deal giving activist investors Carl Icahn and Mark Rachesky one more seat on its board, in a move that staves off a proxy contest and gives management more time to turn around the struggling truck and engine maker. Navistar shares rose as much as 10 percent after the company said it was extending the threshold of its shareholders' rights plan to 19.99 percent from 15 percent, allowing both investors to raise their ...

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