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Stock Market & Financial Investment News

News Breaks
November 29, 2012
11:44 EDTOSKOshkosh responds to Carl Icahn
Oshkosh issued the following statement in response to the press release Carl Icahn issued earlier today: "We encourage Oshkosh shareholders to ignore Carl Icahn's last minute plea to support his highly conditional, inadequate and opportunistic offer. Mr. Icahn continues to pursue flawed and ever-changing platforms, devoid of credible ideas or analysis. The Oshkosh Board and management team, however, have been successfully executing the Company's MOVE strategy, which is creating substantial value for shareholders and has enhanced our ability to return capital to them. We believe that our track record and forecasted outlook speak for themselves and encourage shareholders not to tender their shares into Mr. Icahn's inadequate offer." Goldman, Sachs & Co. is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP and Foley & Lardner LLP are serving as legal advisors to the company.
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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