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January 27. 2012 10:00AM - Last modified: January 27. 2012 10:14AM

Oshkosh shareholders reject billionaire Icahn takeover

By Jim T. Ryan

Shareholders of Wisconsin-based truck manufacturer Oshkosh Corp., which has a midstate facility, have re-elected nearly all of the company's board of directors and rejected a bid by billionaire Carl Icahn to takeover the company.


Shareholders re-elected 12 of 13 board members, and votes on the final spot were too close to call, Oshkosh announced this morning. Final tabulations will be released next week, it said.

Icahn, a New York businessman and one of the richest men in the world, worth about $13 billion, had put up a slate of board nominees in November to gain control of Oshkosh. He also acquired a greater stake in Illinois-based truck maker Navistar International Corp., promoting a merger between it and Oshkosh.

In December, Oshkosh leadership urged investors to resist Icahn's advances.

Oshkosh owns Fulton County-based JLG Industries Inc., a manufacturer of access equipment for commercial and military uses. JLG has a production facility in Southampton Township, Cumberland County.

Oshkosh's trades its shares on the New York Stock Exchange under the ticker symbol OSK.


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