Oshkosh board rejects Icahn offer as 'inadequate'

NEW YORK, Oct 26 (Reuters) - The board of truck maker Oshkosh Corp unanimously rejected billionaire investor Carl Icahn's offer to buy the company, calling it ``inadequate,'' the company said on Friday.

The board ``unanimously concluded that Mr. Icahn`s unsolicited, inadequate, highly-conditional and opportunistic offer significantly undervalues Oshkosh and is not in the best interests of all Oshkosh shareholders,'' Chairman Richard Donnelly said in a statement.