Icahn Warns Oshkosh on Military Cuts

November 14, 2012

The contentious wrangling over Oshkosh continues between investor Carl Icahn and Oshkosh management, as Icahn's latest tactic is warning that looming military spending cuts put the company's military business in jeopardy.

Icahn, Oshkosh's largest shareholder, made an unsolicited takeover bid Oct. 17 to acquire all shares outstanding in a deal valued at about $3 billion. Oshkosh's board of directors has urged shareholders to reject the offer, saying, among other things, that it undervalues the company, according to a report in the Milwaukee Journal Sentinel.

Further, the board of directors in late October also approved a poison pill plan designed to rebuff Icahn’s takeover proposal.

Source: Milwaukee Journal Sentinel