Oshkosh responds to Icahn's proposed directors

30 October 2012

Oshkosh Corp said it had received the list of replacement directors from Carl Icahn as part of his bid to take control of the company.

Mr Icahn has made an offer of $23.50 for Oshkosh’s outstanding shares and has now put forward his own list of candidates to be voted on at Oshkosh’s next AGM in early 2013.

Oshkosh said the list – which is understood to include former JLG CEO Bill Lasky – represented “a slate of friends, employees and affiliates so that they are focused on serving only one agenda – Carl Icahn’s – particularly since most of them either are dependent on Mr Icahn for their livelihood or have fiduciary duties to Icahn Enterprises or its affiliates.”

The list of proposed directors has not been published.

The company said 12 of the 13 nominees are employees or affiliates of Icahn-controlled companies or are nominees from previous Icahn-led proxy fights, and that four are from Mr Icahn’s list of directors that Oshkosh shareholders rejected at the 2012 Oshkosh AGM.

Mr Icahn has said that the sale of JLG Industries would be one of his aims if he gained control of Oshkosh.

Latest News
Mace’s revenue passes £2bn mark
UK-based Mace has seen its revenue pass the £2 billion mark, driven by an expansion of global consultancy work and a five-year high for construction revenue
Corruption controversy engulfs Australian construction union
An Australian government minister has asked the federal police to investigate allegations of corruption against the construction division of the Construction, Forestry, Maritime, Mining and Energy Union (CFMEU)
Fed funding pushes construction start on Washington-Oregon bridge
Federal funding helped start phase one of a major bridge project start in the US Northwest