Navistar Drops Poison Pill

Shareholders of Navistar International, parent company of International Truck and Engine Corporation have voted to drop the company’s anti-takeover poison pill. The measure was proposed in a proxy statement initiated on January 19, 2001, by Gabelli Asset Management, the second largest shareholder of Navistar. Gabelli owns roughly 8.6% of Navistar stock. The vote in favor of removing the poison pill carried by 73.5% of voting shares.