Icahn proposes former JLG CEO Bill Lasky to Oshkosh board

By Murray Pollok22 October 2012

Former JLG Industries chief executive officer and president Bill Lasky will be among the list of new directors proposed for the Oshkosh board by Carl Icahn, the billionaire investor who is trying to take control of Oshkosh.

Mr Lasky was president and CEO of JLG between 1999 and 2006, leaving the company when it was acquired by Oshkosh.

Mr Icahn, who has been pursuing a takeover of Oshkosh with the aim of selling JLG, said in a statement issued on 22 October that Mr Lasky will be “joining our slate of nominees and assisting us in developing an independent strategy to maximize the value of JLG.”

In the same statement Mr Lasky said; “I believe that JLG presents an exciting opportunity for shareholders over the next several years. A dedicated and focused management team will be better able to take advantage of global growth opportunities and mitigate risks related to customer concentration and weak economies in the US and Europe."

In response to this latest statement by Mr Icahn Oshkosh said it would advise shareholders of its position by the end of October and advised shareholders to take no action.

Mr Icahn has offered Oshkosh shareholders a price of $32.50 for their shares and has also advised shareholders to vote for his proposed directors.

He wrote; “We believe that our tender offer and proxy fight provide the opportunity for a victory for shareholders now in the form of two choices: (i) $32.50 in cash or (ii) ownership in both JLG as a separate public company, and in the remaining Oshkosh, the assets of which will be under a new board focused on increasing shareholder value.”

Mr Icahn’s full list of director nominees will be released later this week.

Delivered directly to your inbox, Access, Lift & Handlers Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Featured Training From Easybook
NYC SST Online Training

The clock is ticking… Construction workers in New York City – have you fulfilled your required Site Safety Training (SST)? Get your SST card online now

Latest Events
Last chance to register for the virtual ALH Conference
The ALH Conference is set to kick off (virtually) at 9 a.m. CST on Tuesday, Sept. 14. This is your last chance to register for the live event
ALH Conference shifts to virtual format
The ALH Conference, set for September 14, will be held online, ALH and KHL Group have announced. Registration is now open
ARA Show: Rental-ready
The ARA Show will return to Las Vegas this October for the first time in eight years. ALH provides a preview to the all-things-rental event.
Off-Highway Research

The gold standard in market research

Off-Highway Research offers a library of more than 200 regularly updated reports, providing forensic detail on key aspects of the construction equipment industry.

Our detailed insights and expert analyses are used by over 500 of the world’s largest and most successful suppliers, manufacturers and distributers, to inform their strategic plans and deliver profitable growth.

Click here to visit our website

Lindsey Anderson Editor, Access, Lift & Handlers Tel: +1 312 929 4409 E-mail: lindsey.anderson@khl.com
Tony Radke Sales Manager Tel: +1 480 478 6302 E-mail: tony.radke@khl.com