He was buying this stock in the mid 20's. Either he has some kind of stake in this offering or he is #$%$ to the point where he might sell all his stock.
News out says that Icahn added another $29M of stock reported as of 10/25/12. Wouldn't that put him over 15%?? Did NAV back down on the poison pill?
After offering he owns similar part of company. There is more shares outstanding.
He first has to take the company into Ch 11 to unload billions in pension obligations and leverage the next UAW contract. I wouldn't want to be a Nav retiree counting on those pension payments right now.
Our Pensions are under the Shy Aggreement and can't be touched. get the facts