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Stock Market & Financial Investment News

News Breaks
October 11, 2012
11:27 EDTOSKIcahn announces intention for $32.50 per share tender offer for Oshkosh
Carl Icahn announced his intention to initiate a tender offer for the outstanding shares of Oshkosh at $32.50 per share in cash. Icahn also announced his intention to nominate a slate of directors for election to the Oshkosh board at the upcoming annual meeting. The tender offer is not subject to due diligence or financing, but will be subject to the election of Mr. Icahn’s nominees to the Oshkosh board, Icahn said in a statement. The tender offer will have an initial expiration date of 45 days following commencement.
News For OSK From The Last 14 Days
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October 9, 2014
14:01 EDTOSKOshkosh Defense segment aims to cut workforce by 250-300
Oshkosh announced that its Defense segment plans to reduce its workforce in Oshkosh by approximately 250-300 hourly positions in December. In addition, approximately 70 salaried positions will be eliminated with the majority being temporary employees, elimination of open positions and those retiring. With the reduction, Oshkosh will retain more than 1,800 Defense employees in Oshkosh, Wisconsin and key regional facilities around the world. The company said, "We continue to reshape our workforce as a result of significantly lower U.S. defense spending and dramatic reductions in military vehicle production. We have gone to great lengths to minimize and delay the impact of these changes on our Defense workforce. At the same time we are aggressively competing for future contracts including JLTV, MSVS and other international opportunities, which will serve as a catalyst for growth of the Defense business.”

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