Oshkosh Shareholders Stop Icahn Bid for Seats on Board

Oshkosh Corp. shareholders have stopped investor Carl Icahn's attempt to put six of his selected candidates into seats on the company's board of directors and to push the company to sell its aerial lift manufacturing subsidiary, JLG.

In November, Icahn nominated six directors and proposed that the company sell its aerial work platform manufacturer, JLG, and use the profit to pay down debt.

A vote taken Friday, Jan. 27 at the Oshkosh Corp. annual meeting of shareholders put company-backed nominees in 12 of the board’s 13 seats, effectively shutting out Icahn’s proposed directors.

According to local newspaper, the Fond du Lac (Wis.) Reporter, votes for the last seat were close and a final report on the election is expected by Thursday, Feb. 2.