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Stock Market & Financial Investment News

News Breaks
November 29, 2012
09:16 EDTOSKCarl Icahn issues statement regarding tender offer for Oskhosh for $32.50/share
"As you know, our any and all tender offer is set to expire this Monday, December 3, 2012. However, as we previously indicated, if as of that date, at least 25% of the outstanding OSK shares are validly tendered in our tender offer, we believe this would indicate that we would have an excellent chance of prevailing in our proxy contest. Therefore, so long as we receive that level of support, we intend to continue our proxy fight and extend the expiration date of the offer until Oshkosh holds its upcoming annual shareholder meeting, at which time the results of our proxy contest will be obtained...However, 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. This board has made some modest concessions which we believe are a response to our tender offer, such as finally putting some concrete parameters around a stock buyback program, in an effort to address a very weak capital allocation track record. However, we believe this represents too little, too late."
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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