Carl Icahn Offers to Buy Oshkosh Corp. for About $3B

Posted Thursday, October 11, 2012 --- 11:49 a.m.

NEW YORK (AP) -- 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 percent 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 percent, to $30.25 in midday trading. The shares are up 36.6 percent July 25, the day before the company's fiscal third-quarter report.

Copyright 2012. The Associated Press.


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