Oshkosh (OSK) Comment on Icahn Missing 25% Tender Offer Target
Get Alerts OSK Hot Sheet
Price: $121.25 +0.65%
Overall Analyst Rating:
NEUTRAL ( Down)
Dividend Yield: 1.8%
Revenue Growth %: +9.7%
Overall Analyst Rating:
NEUTRAL ( Down)
Dividend Yield: 1.8%
Revenue Growth %: +9.7%
Join SI Premium – FREE
Oshkosh Corporation (NYSE: OSK) issued the following statement in response to the press release Carl Icahn issued earlier today announcing the expiration of his unsolicited tender offer after failing to meet his 25% tender threshold:
The Board and management team thank shareholders for their continued support. We remain focused on continuing to successfully execute the Company’s MOVE strategy and on generating substantial value for our shareholders.
Mr. Icahn pledged to shareholders in a press release on November 29, 2012, that “if we do not receive tenders of at least 25% of the outstanding shares by the expiration of the offer on December 3rd, we will respect the shareholders’ wishes, drop our tender offer and proxy fight and move on to other endeavors.” Given today’s tender results, Oshkosh looks forward to moving ahead without the unnecessary expense and distraction of a proxy contest.
Goldman, Sachs & Co. is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP and Foley & Lardner LLP are serving as legal advisors to the Company.
The Board and management team thank shareholders for their continued support. We remain focused on continuing to successfully execute the Company’s MOVE strategy and on generating substantial value for our shareholders.
Mr. Icahn pledged to shareholders in a press release on November 29, 2012, that “if we do not receive tenders of at least 25% of the outstanding shares by the expiration of the offer on December 3rd, we will respect the shareholders’ wishes, drop our tender offer and proxy fight and move on to other endeavors.” Given today’s tender results, Oshkosh looks forward to moving ahead without the unnecessary expense and distraction of a proxy contest.
Goldman, Sachs & Co. is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP and Foley & Lardner LLP are serving as legal advisors to the Company.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM (IBM) announces mixed Q1 results, HashiCorp acquisition; shares down
- Digital Realty Trust (DLR) Appoints Susan Swanezy to its Board
- Katapult Holdings (KPLT) Announces Resignation of Chief Accounting Officer
Create E-mail Alert Related Categories
Corporate News, Hedge Funds, Management Comments, Mergers and AcquisitionsRelated Entities
Carl IcahnSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!