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Icahn Wants Shareholders to Replace Oshkosh Board; Oshkosh Responds
According to Market Watch, investor Carl Icahn has asked Oshkosh Corp.'s shareholders to sell their shares to him or vote for his slate of directors to replace the existing board. Icahn is the company's largest shareholder.
Earlier this month, Icahn offered shareholders a per-share price of $32.50. Reuters reported that William Lasky, the former chairman and chief executive of JLG, is among the nominees. Today, Oshkosh Corporation, a leading manufacturer of specialty vehicles and vehicle bodies, issued the following statement in response to Carl Icahnís October 22, 2012 open letter to shareholders:
"The Oshkosh Board of Directors, in consultation with its financial and legal advisors, will advise shareholders of its position regarding Carl Icahnís unsolicited tender offer and expected slate of director nominees. Oshkosh will submit its response to Mr. Icahnís unsolicited tender offer not more than 10 business days from October 17, 2012, the date of commencement of the tender offer, by making available to shareholders and filing with the Securities and Exchange Commission a Solicitation/Recommendation Statement on Schedule 14D-9. Oshkosh shareholders are advised to take no action at this time pending a review of the unsolicited tender offer by the Oshkosh Board."
Article Date: 2012-10-22
Source: Associated Equipment Distributors
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