Oshkosh Merger With Navistar Possible

10/22/11 – Billionaire investor Carl Icahn wants to see the Oshkosh Corporation merge with Navistar International. Icahn owns about nine-and-a-half percent of both Oshkosh and Navistar – but reports say he has not made a formal proposal to either company for a possible merger. Oshkosh stock has lost about half its value this year, as the military-and-government truck maker deals with declines in the Pentagon budget, and expenses in acquiring J-L-G Industries five years ago. Also, Oshkosh just went through a rough labor period. Its major employee union has just approved a new five-year contract after rejecting two previous offers. It’s not clear whether Oshkosh or Navistar would be interested in merging with each other – and there’s no indication of how effective Icahn’s lobbying might be.