Activist investor Carl C Icahn wants to talk with the parent firm of JLG access equipment about ways to boost Oshkosh Corp shareholder value.

The New York-based billionaire is targeting Oshkosh's stock return and, in earlier market forays, went after control of other potentially undervalued companies.

JLG forms the core of Oshkosh's access equipment segment. JLG manufactures aerial work platforms and telehandlers to position workers and materials for construction, agricultural, industrial, institutional and general maintenance applications.

From 29 April to 30 June, several Icahn funds and Icahn-controlled High River LP, Hopper Investments LLC, Barberry Corp and Beckton Corp methodically acquired 9.51% of Oshkosh common stock, consisting of a combination of 8,665,260 shares and call options.

"Oshkosh Corp believes Mr Icahn's investment is evidence of his belief in the value of the company," the Oshkosh, Wisconsin-based manufacturer says. "Oshkosh Corp noted it is open to dialogue with its shareholders."

The Wall Street Journal's SmartMoney venue ponders: "Can Carl Icahn Shake Up Oshkosh?" TheStreet.com Inc website reports, "Icahn Calls Oshkosh Cheap" in terms of stock price.

Oshkosh acquired JLG Industries Inc of Hagerstown, Maryland for USD3.1 billion in December 2006 and towing recovery body maker Jerr-Dan Corp of Greencastle, Pennsylvania for USD79.9 million in July 2004. JLG was Oshkosh's entry into the access equipment market. Recently, Oshkosh internally moved the JerrDan business into the access equipment segment for reporting purposes.

For the fiscal year ended 30 September, the access equipment segment accounted for sales of USD3.01 billion - second to Oshkosh defence segment's USD7.16 billion - of the corporation's total of USD9.84 billion after intersegment eliminations. Robert G Bohn, Oshkosh chief executive officer since October 1997 and board chairman since January 2000, received salary, incentives and other compensation of USD4.1 million.

As of 21 December, asset management firm Blackrock Inc of New York owned 5.79% of Oshkosh common stock. Oshkosh directors and executive officers as a group owned 2.74%.