Navistar Sale Sets NYSE Record
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NEW YORK — A block of Navistar International Corp. stock totaling more than 48 million shares traded on the New York Stock Exchange today, dwarfing all other big trades ever handled in the United States.
The Navistar block of 48,788,800 shares set an NYSE record in both volume and value. Each share of Navistar--formerly International Harvester Co.--fetched $10, bringing the total value of the transaction to $487.9 million. The bulk of the shares were sold by institutions that acquired a stake in the company when it underwent a financial restructuring in 1983.
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