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Icahn to Drop Oshkosh Offer If Support Falls Short Next Week

Billionaire activist investor Carl Icahn said he will drop his offer to buy Oshkosh Corp. if less than 25 percent of shares are tendered by next week. The stock fell the most in five months.

His offer to buy all outstanding shares of the Oshkosh, Wisconsin-based truckmaker at $32.50 a share, or about $3 billion, is set to expire at midnight Dec. 3.