Oshkosh Corp. is tyring to prevent billonaire investor Carl Icahn from taking a controlling interest in the company's board of directors. Icahn is looking to gain six of the 13 board of director seats.
Many of the proposals Icahn has stated he would bring about as a shareholder, including mergers and downsizing, are of concern to the company and its employees. Oshkosh Corp. is one of the largest companies in the Oshkosh, WI, area, and its multimillion-dollar defense contracts have helped the company and its many suppliers stay in business.
Icahn has proposed selling assets, consolidting the defense segment with other companies, such as Navistar, as well as finding efficiencies in the fire and emergency segment.
Oshkosh Corp. shares have fluxuated over the past few years, going from $65 in 2007 to $4.25 in 2008, and back up to $24.84 as of January 20, 2012. Icahn hopes to increase share prices even more by implementing his proposed ideas.
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