July 22, 2024

Business Briefing | ACQUISITIONS: Interest from Icahn Propels a Gain in Oshkosh Shares

The investor Carl C. Icahn reported a 9.5 percent stake in the Oshkosh Corporation, a specialty truck maker, and said he was seeking talks with the company to enhance shareholder value, setting off a 14 percent gain in the company’s share price on Friday. Oshkosh, which makes tactical vehicles for the military and specialty trucks for construction, is the latest diversified industrial and military company to be the focus of activist investors for a breakup. Stock in the company, which also makes fire and emergency equipment, rose $4.01, to $32.95 a share. Oshkosh said in a statement late on Thursday it was open to dialogue with shareholders, adding that the company believed Mr. Icahn’s investment was “evidence of his belief in the value of the company.” Mr. Icahn held 9.51 percent of Oshkosh shares as of June 20, according to a Securities and Exchange Commission filing on Thursday.

Article source: http://feeds.nytimes.com/click.phdo?i=cab3cf82a21ab6b02565b06b911ae815

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