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Carl Icahn's $3 billion Oshkosh bid rejected as 'low-ball price'
Carl Icahn's $3 billion Oshkosh bid rejected as 'low-ball price'

Specialty truck maker Oshkosh Corp. rejected a takeover bid by billionaire activist investor Carl Icahn, calling the $32.50-a-share offer “unsolicited, inadequate, highly conditional and opportunistic.” The Wisconsin company’s board said Friday that it had unanimously turned down the nearly $3 billion pitch in which Icahn, the business’ largest shareholder, would pick up all outstanding common shares. In a letter, Oshkosh urged other stakeholders to snub the offer, which it called a “low-ball price.” Chairman Richard M. Donnelly said the effort, launched earlier this month, was “yet another attempt by Mr. Icahn to enrich himself at the expense of all other Oshkosh shareholders.” Last...

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