Navistar Drops Poison Pill
Mar 22, 2001 12:00 PM, Refrigerated Transporter
Shareholders of Navistar International, parent company of International Truck and Engine Corporation have voted to drop the company’s anti-takeover poison pill. The measure was proposed in a proxy statement initiated on January 19, 2001, by Gabelli Asset Management, the second largest shareholder of Navistar. Gabelli owns roughly 8.6% of Navistar stock. The vote in favor of removing the poison pill carried by 73.5% of voting shares.
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