Is Carl Icahn Trying to Force These Two Truck Makers to Wed?
Speculation that investor Carl Icahn is trying to force a marriage between two failing truck manufacturers is rampant. Icahn revealed recently that he has acquired a 9.8% stake in Navistar International Corp. (NYSE:NAV) and a 9.5% stake in Oshkosh Corp. (NYSE:OSK).
The companies’ shares have fallen significantly over the past year, hampered in part by reduced spending from the military.
Following is some information on the companies’ stock price performance.
- Navistar International Corp. (NYSE:NAV): The shares recently traded at $41.99, up $1.89, or 4.71%, on the day. The shares have traded in a 52-week range of $30.01 to $71.49 and its market capitalization is $3.05 billion. About the company: Navistar International Corporation manufactures and markets medium and heavy trucks, school buses, mid-range diesel engines, and service parts. The Company also provides financial services to its dealers and customers.
- Oshkosh Corp. (NYSE:OSK): The shares recently traded at $19.88, up $1.48, or 8.04%, on the day. The shares have traded in a 52-week range of $14.07 to $40.11 and its market capitalization is $1.81 billion. About the company: Oshkosh Corporation designs, manufactures and markets fire and emergency apparatuses and specialty commercial and military trucks. The Company provides products such as pumpers, aerial and ladder trucks, tankers, rescue vehicles, snow removal vehicles, refuse truck bodies, and concrete mixers.
(Note: Selected financial data are sourced from Google Finance. All data are assumed to be accurate.)
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