Icahn Raises Stake in Navistar International to 14.9%

Icahn's and fellow activist shareholder Mark Rachesky have both increased ownership to 14.9% as Navistar stock has fallen 31% in the past three months

Billionaire investor Carl Icahn purchased 285,901 shares of Navistar International Corp. stock last week, pushing his stake in the commercial truck maker to 14.9%, just below the threshold for activating the company's antitakeover plan.

Icahn's holdings in the company roughly equal that of fellow activist shareholder Mark Rachesky, who ratcheted up his stake in Navistar to 14.9% earlier this month.

The company reported two consecutive quarters of unexpected losses due in large part to rising warranty claims for the company's new 13-liter engines. Navistar's stock has fallen 31% in the past three months.

(More on Icahn purchases of Navistar . . . )