|
|
Industry NewsOshkosh Holds Off IcahnJanuary 27, 2012 Oshkosh Corp. shareholders handed a defeat to activist investor Carl Icahn by electing "at least" 12 of the 13 management-backed nominees to the company's board. Just one of six seats contested by Icahn was too close to call, the company said, reporting the results of the voting at the annual shareholder meeting. Oshkosh, a manufacturer of military vehicles and fire and rescue trucks, said it was still completing a full counting of votes and will report the results for the last board seat within four business days. During the meeting, Icahn was represented by Samuel Merksamer, a managing director at Icahn Partners and one of Icahn's nominees to the board. Merksamer spoke briefly to read the name of Icahn's slate and to thank shareholders. Icahn holds stakes of roughly 10% in both Oshkosh and Navistar International Corp. He said in December he would like to see the companies merge. He has also called on Oshkosh to consider selling its JLG aerial lift business and pay down debt. Oshkosh has said its executives have met Icahn multiple times and he has not proposed "substantive ideas" that would benefit all shareholders.
|
|
