Billionaire investor Carl Icahn has given up his effort to buy the Oshkosh Corporation. He recently set a deadline of Monday to get at least 25-percent of the company’s shares in a tender offer – but he fell short at 22-percent. Icahn is known for snapping up shares of struggling companies and creating shake-ups – sometimes with good results and sometimes not. He previously claimed that Oshkosh – which makes military, construction, and municipal vehicles – needed a new strategy and new management. But Icahn said he would quote, “move on to other endeavors” if a quarter of the company’s stock was not tendered to him. He said the 25-percent tender level would have shown that he has enough investor support for his proposals. And it would have justified extending his offer of 32.50-a-share until the company’s annual stockholders’ meeting next year.
