Oshkosh rejects Icahn offer

Investor's Business Daily

The specialty truck maker urged shareholders to reject billionaire investor Carl Icahn's $43.50 per share tender offer, saying it undervalues the company. Icahn, Oshkosh's (OSK) largest shareholder, said he will nominate a competing slate of board candidates. The board announced a "poison pill" provision to thwart hostile takeovers. The company also posted a 30% bump in Q3 EPS to 65 cents, 18 cents over views. Revenue declined 2.3% but beat views. Shares rose 0.6% to 29.92.

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