Well, the colorful Carl Icahn, an icon of the hostile takeover business, is progressing in the slow Trojan affair of hostile takeovers, in this case targeting none other than NAV. I'm sure this made some quant's head explode somewhere, but yes, NAV is also a ticker.
This company in question is a company that makes engines for trucks and other heavy machinery. It is currently in somewhat of a predicament, because it took somewhat of a daedalian risk. It took some clever approaches to overcoming the increasing MPG ratings associated with "CAFE" standards imposed by Uncle Sam, and is hence treading water, in a pool that its competitors can swim through like they are Michael Phelps in Beijing.
Needless to say, this somewhat sickly gazelle, has been targeted by those looking for "distressed" investments(see firing leadership, as a gesture of good will)(There's also the somewhat small stake relative to Carl and his compadres that is held by the board, something like 1.5% vs Carl's 15%).
Does this mean that its share price will rise to somewhere near previous highs which are significantly higher than the current 25 or so, who can say. But either way, if one is a fan of Carl's coat tails, this might be a good stretch of linen to pry on to.
For, Carl Icahn, presumably didn't make his billions by failing at inserting value into flagging corporations, and perhaps sometimes that's all the due diligence we need, but then again who can say.