Activist Shareholders Raise Their Stakes In Navistar International Corporation-Reuters

Reuters reported that three big investors have increased their stakes in Navistar International Corporation, which last month surprised Wall Street with a quarterly loss and has since backed down from a new engine technology it was pushing. Asset manager Franklin Resources Inc is now Navistar's largest shareholder, with an 18.8% stake, topping MHR Fund Management and billionaire Carl Icahn. MHR last month took a significant stake in the Company and now holds 14.95%; Icahn holds 13.19%. Together, the three top shareholders hold almost 47% of the outstanding shares of the maker of International-brand heavy trucks and school buses.