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Navistar Appoints Samuel Merksamer to Board, Third Appointment Related to Icahn Pact

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UPDATE: UBS Downgrades Navistar International Corporation to Neutral, Lowers PT to $36.00
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Navistar International Corporation (NYSE: NAV) today announced Samuel J. Merksamer, managing director at Icahn Capital LP, has been appointed to the company's Board of Directors. He replaces Diane Gulyas, who retired after serving three years as a board member. Mr. Merksamer's appointment to the board and Ms. Gulyas's retirement are effective December 10, 2012, maintaining the total number of Navistar board members at 10, nine of whom are independent.

(Logo: http://photos.prnewswire.com/prnh/20120127/MM32830LOGO-a)

The appointment of Mr. Merksamer represents the third board member appointment pursuant to the agreement the company entered into with Icahn Partners and its affiliated entities ("Icahn") and MHR Fund Management LLC and its affiliated entities ("MHR"). Mr. Merksamer will stand for election at the company's 2013 Annual Meeting of Shareholders.

Posted-In: News Management

 

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