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Navistar International Corporation Message Board

  • sinkingintherain sinkingintherain Oct 24, 2012 8:12 AM Flag

    New Share Issue

    Wow! I'll bet the market just snaps these up. Bought deal; more grief for the poor souls who drank the Kool-Aid and held onto their shares. I'm seeing $15 by close of trading today. Crystallize your tax losses now, folks. It's only going to get worse.

    Sentiment: Strong Sell

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    • NAV bought back alot of these shares when the stock was about $40.
      They are going to take a 50% loss because they need CASH, now!!
      And, of course, NAV knows these shares will be worth less in a few months (otherwise they would wait, right?).... so SELL now!

      Sentiment: Strong Sell

    • I don't think this is a "new" share issue. In Sept 2011 NAV announced a $175M stock buyback.

      Sentiment: Strong Sell

    • You would think Navistar's poison pill agreement with its top institutional shareholders would violate them from issuing new shares as this would dilute the % share held by icahn rachesky and templeton. If this is allowed to go though look for the stock to be in the low teens.

      Sentiment: Sell

      • 1 Reply to A Yahoo! User
      • Rachesky, and Icahn's representative, Vince Intrieri, are seated on NAV's board. My guess: all of the shares go to their funds, say, 10% of the company for $250 million each, putting them at 50% of the outstanding shares. Small shareholders, investors with subordinated bonds, and unsecured creditors get dusted, while they end up owning the company. If they can't turn it without a Chapter 11, they control the filing and the subsequent restructuring plan, and come out the other side owning a property with some value, shorn of excessive debt, union agreements, obligations to repay government incentives, retiree liablities, etc. Right in PrezBo's back yard!

 
NAV
20.67-0.02(-0.10%)2:25 PMEDT