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Cerberus to Buy 70% Stake in Navistar’s Defense Business

New York-based private equity firm Cerberus Capital Management has agreed to purchase a 70 percent controlling stake in Navistar International’s (NYSE: NAV) defense business for an undisclosed sum. Michael Sanford, co-head of private equity and senior managing director of Cerberus, said in a statement published Monday the company plans to …

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