Oshkosh Says Icahn Selected ‘A Slate of Friends’ for Board
The truckmaker based in the Wisconsin city of the same name confirmed today in a statement that it received Icahn’s nominees. It said 12 of the 13 nominees are employees or affiliates of Icahn-controlled entities or repeat nominees from his previous proxy fights.
“Shareholders should be aware that Mr. Icahn selected a slate of friends, employees and affiliates so that they are focused on serving only one agenda -- Carl Icahn’s,” the company said today in the statement.
Oshkosh’s board last week rejected Icahn’s bid to buy the company for about $3 billion, or $32.50 a share. Icahn, the company’s largest investor with a 9.5 percent stake, led an unsuccessful proxy fight earlier this year. Oshkosh rose less than 1 percent to $29.92 at the close on Oct. 26 in New York. U.S. stock trading was canceled today because of Hurricane Sandy.
Icahn has criticized Oshkosh’s executives for poor performance. He has said he wants to spin off JLG Industries Inc., which makes construction-lift equipment, because it is more valuable as a separate entity. The unit was purchased by Oshkosh about six years ago.
The nominees are Icahn himself, William Lasky, Jose Maria Alapont, William Leidesdorf, Daniel Ninivaggi, Marc Gustafson, James Cowan, James Nelson, Jack Wassserman, A.B. Krongard, Keith Cozza, SungHwan Cho and Hunter Gary.
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