Icahn blasts Navistar; board fires back

Sep 10, 2012 | 02:57 PM | Michael Cowden

Tags  Navistar, Carl Icahn, board, management, Lewis Campbell, Textron, shareholder activism, proxy fight truck

CHICAGO — Navistar International Corp. on Monday shot back at investor Carl Icahn after he penned a letter threatening a proxy battle and accused the truck and engine manufacturer’s board of being "asleep at the switch."

Icahn, who said he holds 15 percent of the outstanding stock in Lisle, Ill.-based Navistar, in a letter dated Sunday demanded that four board seats be made available to shareholders "immediately."....

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