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Navistar International Corp. bond yields are rising while those of other U.S. junk-rated truckmakers fall as investors penalize it for an engine design flaw and Carl Icahn expands his influence in the industry.

Yields on its notes are up 2 percentage points this year as those on the 20 most-indebted high-yield automotive companies fall, according to Bank of America Merrill Lynch index data. Icahn, who owns 14.8 percent of Navistar’s shares, is offering $3 billion for Oshkosh Corp. after a failed bid last year prompted speculation of a merger between the two companies.

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