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Carl Icahn makes bid for Oshkosh that value company at about $3B; plans proxy fight
NEW YORK, N.Y. – 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 per cent 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 per cent, to $30.25 in midday trading. The shares are up 36.6 per cent July 25, the day before the company’s fiscal third-quarter report.
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