Activist investor Carl Icahn intends to make an unsolicited bid for JLG parent firm Oshkosh Corp that values the company at almost USD3 billion and, again, nominate his own directors in an effort to gain control of the company.

On 10 October, New York-based Icahn said he would make a tender offer worth USD32.50 a share in cash, at that time a 21% premium over Oshkosh's closing price.

Oshkosh said on 11 October: "As you know, Mr Icahn was unsuccessful in his attempt to elect any of his six director nominees to the Oshkosh board at our 2012 annual meeting. Our board of directors, with the help of independent financial and legal advisers, will advise Oshkosh shareholders of its position regarding the unsolicited tender offer within 10 business days from the time Mr Icahn formally commences his offer, which has not yet occurred. The board advises shareholders to take no action at this time pending the board's review of Mr Icahn's unsolicited tender offer."

Icahn believes Oshkosh management needs to be more active. Through his entities, Icahn owns about 10% of Oshkosh's common shares.

JLG-brand aerial work platforms and telehandlers are the Oshkosh-based corporation's access equipment business segment's principal products. For the three months to 30 June, the access equipment segment accounted for sales of USD814.6 million or about 37% of Oshkosh Corp's consolidated sales of nearly USD2.18 billion.

Meanwhile, CNH Global NV has rejected a buyout offer from parent firm Fiat Industrial SpA.

Among its agricultural and construction equipment lines, CNH manufactures telescopic handlers through business unit New Holland Kobelco Construction Machinery SpA, of San Mauro Torinese, Italy.

Fiat, of Turin, Italy, owns 88% of CNH and, on 30 May, proposed a full USD1.1 billion merger that would have resulted in a move of Fiat's primary stock listing to New York from Milan, Italy.

In a 15 October statement, members of a special committee of the CNH board say they "unanimously concluded the proposal is inadequate and would not be in the best interests of CNH and its shareholders".

CNH is listed on the New York Stock Exchange. Burr Ridge-based CNH is incorporated under Dutch law and was created through a 1999 merger of New Holland NV and Case Corp.