News Summary: Carl Icahn to offer $3B for Oshkosh
By: The Associated Press
SEEKS CONTROL: Billionaire investor Carl Icahn plans to make an unsolicited bid for truck maker Oshkosh Corp. that values the company at almost $3 billion. Icahn also plans to nominate his own slate of directors in a bid for control of the company.
PREMIUM OFFER: The activist investor said Thursday that he will make a tender offer worth $32.50 per share in cash, a 21 percent premium over Oshkosh's latest closing price.
GIVE-AND-TAKE: Icahn had sought seats on the board unsuccessfully last year. He said management has taken a passive attitude toward the company's future and wants it to be more active. Oshkosh asked its shareholders to take no action on the offer until the board reviews it.
SEEKS CONTROL: Billionaire investor Carl Icahn plans to make an unsolicited bid for truck maker Oshkosh Corp. that values the company at almost $3 billion. Icahn also plans to nominate his own slate of directors in a bid for control of the company.