Advertisement
News
Advertisement

Icahn Offers To Buy Oshkosh For About $3B

Thu, 10/11/2012 - 1:35pm

NEW YORK (AP) -- Billionaire investor Carl Icahn is making an unsolicited bid for truck maker Oshkosh Corp. that values the company at almost $3 billion. Icahn says he also plans to nominate his own slate of directors in a bid for control of the company.

The activist investor is offering $32.50 per share in cash, a 21 percent premium over Oshkosh's latest closing price.

Icahn had sought seats on the board unsuccessfully last year. He says management has taken a passive attitude toward the Wisconsin-based company's future and wants it to be more active.

Oshkosh didn't immediately respond to a call and email seeking comment.

Its shares gained $3.40, or 12.7 percent, to $30.25 in midday trading. The shares are up 36.6 percent July 25, the day before the company's fiscal third-quarter report.

Advertisement

Share this Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading