NEW YORK—
Billionaire investor Carl Icahn is making an unsolicited bid for truck maker Oshkosh Corp. that values the company at almost $3 billion. Icahn said 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 said 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 since July 25, the day before the company’s fiscal third-quarter report.
Oshkosh is the parent company of McConnellsburg, Pa.-based JLG, which manufactures manlifts, aerial work platforms and telehandlers. JLG has factories and offices around the world, including sales and executive offices in Hagerstown and manufacturing facilities in Shippensburg, Pa., and McConnellsburg.
