News Summary: Carl Icahn to offer $3B for Oshkosh

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.