San Diego, CA -- (SBWIRE) -- 06/27/2012 -- An investigation on behalf of investors NYSE:NAV shares was announced concerning whether a takeover of Navistar International Corp would be unfair to investors in Navistar shares.
Investors who purchased shares of Navistar International Corp (NYSE:NAV) prior to June 15, 2012, and currently hold any of those NYSE:NAV shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
On June 15, 2012, it surfaced that the hedge fund manager Mark Rachesky had a 13.6 percent stake in Navistar’s shares, and activist billionaire Carl Icahn 11.9 percent.
On June 20, 2012, Navistar International Corp announced that its Board of Directors has adopted a Stockholder Rights Plan (also know as a poison pill) and declared a dividend of one right on each outstanding share of Navistar common stock.
One article said, that “Navistar International Corp (NYSE:NAV) is turning into the cheapest takeover target in the world among commercial truckmakers”
Shares of Navistar International Corp (NYSE:NAV) closed on June 21, 2012 at $26.45 per share, less than half its current 52weekHigh of $58.50 per share. Furthermore, shares of Navistar International Corp (NYSE:NAV) grew from as low as $22.92 per share in March 2009 to as high as $69.52 per share in April 2011. Since then NYSE:NAV shares dropped in value and traded on June 7, 2012 at almost $24 per share. In addition, Navistar International Corp has performed well for its investors in recent years. Its annual Revenue rose from $11.56billion in ’09 to $13.95billion in 2011 and its Net Income surged from $320million in 2009 to $1.72billion in 2011.
Therefore the investigation by a law firm for Navistar International Corp (NYSE:NAV investors concerns whether a potential takeover would be unfair to by a law firm stockholders. Specifically, the investigation focuses on whether the by a law firm Board of Directors will undertake an adequate sales process, adequately shop the company before entering into the transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Navistar International Corp (NYSE:NAV) and purchased their by a law firm shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego