Oshkosh urges shareholders to reject Icahn offer as deadline approaches
29 November 2012
JLG owner Oshkosh Corp has reiterated its message to shareholders to ignore Carl Icahn’s share offer. Shareholders had until Monday (03 December) to accept Mr Icahn’s $32.50 share offer.
Oshkosh said in a statement; “We encourage Oshkosh shareholders to ignore Carl Icahn’s last minute plea to support his highly conditional, inadequate and opportunistic offer.
“Mr Icahn continues to pursue flawed and ever-changing platforms, devoid of credible ideas or analysis…We believe that our track record and forecasted outlook speak for themselves and encourage shareholders not to tender their shares into Mr Icahn’s inadequate offer.”
Carl Icahn is trying to gain control of Oshkosh either through buying shares or by having investors vote in his selection of company directors at Oshkosh’s investors meeting early next year.
Oshkosh said its MOVE strategy is moving the company in the right direction. MOVE stands for Market recovery and growth, Optimised cost and capital structure, Value innovation, and Emerging market expansion.
A central part of Mr Icahn’s strategy for Oshkosh is to sell JLG.