Icahn is now Oshkosh’s largest shareholder. Along with the presentation came out late yesterday, Icahn also elected six candidates for Oshkosh’s board. He said Oshkosh was failed to deliver returns for its shareholders and was in the bottom when compared to its peers. JLG might be worth more in the hands of another owner, even worth more than the entire market cap of Oshkosh. “Management should admit they made a mistake in buying JLG and explore alternatives for the decision,” said Icahn.
In response, Oshkosh accused Icahn of lacking understanding of the industry. The company said Icahn’s slate consists of persons that are close to him, although they do have relevant experiences.
(To see the full presentation, click here)