OshKosh Corp., the military, emergency and commercial truck manufactuer, the has brought in PR help as it mounts a defense against activist investor Carl Icahn’s hostile takeover bid.
Photo: OshKosh |
Joele Frank, Wilkinson Brimmer Katcher’s New York office is supporting OshKosh’s Wisconsin-based communications unit, led by VP/comms. John Dagett and VP/IR Patrick Davidson.
OshKosh, in a statement today, noted Icahn failed to get his six director nominees on the company’s board at its last annual meeting and said it will advise shareholders of its position on the latest offer within 10 days. In addition to PR support, it has brought in Goldman Sachs and two law firms – Skadden, Arps, Slate, Meagher & Flom and Foley & Lardner.
Icahn, who says there are “long standing problems” facing the company, went public with his $32.50-per-share offer earlier today, a 21% premium on its Oct. 10 share price.
The takeover is subject to election of his slate of directors to Oshkosh’s board.
“We believe that mismanagement of this company has resulted in a lost decade of shareholder value,” Icahn said.
OshKosh makes vehicles like fire and emergency trucks, personnel lifts, military transports and various other commercial trucks.
Fiscal 2011 revenue topped $7.5B.