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Navistar settles with Icahn, Rachesky

Monday, 8 Oct 2012 | 8:57 AM ET

Oct 8 (Reuters) - Navistar International Corp agreed to appoint three new members to its board, preventing a proxy fight with activist investors Carl Icahn and Mark Rachesky.

The U.S. truck and engine maker said Vincent Intrieri, an Icahn nominee, and Rachesky have been named to the board.

A third director will be designated and mutually agreed upon

by Rachesky and Icahn.

Icahn and Rachesky each own a 14.94 percent stake in the company, tying them as its second-largest investors.

(Reporting by A. Ananthalakshmi in Bangalore; Editing by Saumyadeb Chakrabarty)

((ananthalakshmi.as@thomsonreuters.com)(within US +646 223 8780)(outside US +91 80 4135 5800)(Reuters Messaging: ananthalakshmi.as.reuters.com@reuters.net))

Keywords: NAVISTARINTERNATIONAL BOARD/

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