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TRUCKMAKERS NEWS * USA
* Carl Icahn: Navistar and Oshkosh Should Merge
New York,Ny,USA -TruckingInfo -7 Dec 2011: -- Billionaire investor Carl Icahn told CNBC yesterday that he sees synergy in a merger between the two heavy truck makers... Icahn says he'd like to see the trucking giant merge with rival Oshkosh... In October, Icahn had Wallstreeters wondering if he had set his sights on an amalgamation between Navistar and Oshkosh. He had just acquired 9.8% of Navistar stock on "the belief that the shares were undervalued at current levels," making him the second largest single shareholder in the company... Three months earlier, Icahn had acquired a 9.5% stake in Oshkosh... Icahn has a history of buying positions in companies he considers to be underperforming and then pushing for change... About a month ago, Navistar reached a deal with Icahn that could put its directors up for election each year. In exchange, Icahn agreed not to propose his own slate of directors at the company's annual meeting, CNBC notes... Icahn is currently involved in a proxy fight at Oshkosh...
* Wiscosin - Oshkosh urges shareholders to resist billionaire Icahn
Oshkosh,WIS,USA -CPBJ Now, by Jim T. Ryan -December 12. 2011: -- Truck manufacturer Oshkosh Corp., which has a midstate presence, today is urging its shareholders to resist the advances of billionaire investor Carl Icahn. He is pressing for the January election of six new board members in a bid to gain greater control of the company... Wisconsin-based Oshkosh sent a letter to shareholders along with its proxy statement calling Icahn a "corporate raider" and urging shareholders to re-elect the current 13-member board at its Jan. 27 meeting.
Bellevue,WASH,USA -MarketWatch, by Ben Fox -Dec. 8, 2011: -- Paccar Inc.'s board approved a share buyback program of an additional $300 million, joining a growing list of companies looking to bolster shareholder value... Earlier this week, the maker of Kenworth and Peterbilt heavy-duty commercial trucks unveiled a 70-cent a share special dividend, on top of its regular 18-cent quarterly payout. The extra payment is expected to cost the company about $250.8 million... The truck maker recently said it had begun construction on an assembly plant for DAF-brand trucks in Ponta Grossa, Brazil, and opened a new technical center in Pune, India, part of an effort to speed the company's global growth. But the company has said it would scale back truck production in Europe as turbulent economic conditions take a toll on demand...
Labels: truckmakers news USA
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