Now Mr. Icahn would like you to sell your shares to him at $32.50 per share – even though he has stated publicly that the value of Oshkosh is in excess of that price and the median Wall Street research target price exceeds this Offer (before adding any takeover premium). Mr. Icahn’s Offer comes despite the fact that Oshkosh articulated a detailed plan at its September 14, 2012 Analyst Day that it expects to deliver value to shareholders well in excess of Mr. Icahn’s Offer.To further his inadequate Offer, Mr. Icahn has conditioned his Offer upon the election of his slate of director nominees to the Oshkosh Board at the 2013 Annual Meeting of Shareholders. He also resurrected his flawed idea of divesting JLG should he take control of the Board – in other words, even if you believed his JLG idea creates value, he wants you to tender your shares to him at a low-ball price with the result that you would be unable to benefit from such a transaction. But, the Board has regularly reviewed this idea. It does not add value for shareholders, and shareholders would lose the significant upside from the Company’s MOVE strategy. We believe Mr. Icahn’s tender offer and the related proxy contest are tools to advance Mr. Icahn’s self-serving agenda, and if elected, Mr. Icahn’s director candidates will seek to deprive all other Oshkosh shareholders of the full value of their investment by facilitating Mr. Icahn’s inadequate Offer and ill-advised strategy to spin-off JLG.
Oshkosh Board Of Directors Unanimously Rejects Carl Icahn’s Unsolicited, Inadequate, Highly Conditional And Opportunistic Tender Offer
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