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Why Oshkosh's Shares Jumped

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Oshkosh Corp. (NYSE: OSK  ) jumped as much as 16.4% mid-day after Carl Icahn make a bid for the company.

So what: Icahn has stated his intention to offer $32.50 per share in cash in a tender offer for control of the company. Management has issued a statement saying that it would advise shareholders within 10 days of the offer. 

Now what: Icahn is unhappy with the company's management, and has been unsuccessful in forcing change, so he's making a bid for the whole company. What happens from here is anybody's guess, but Icahn has a long history of making deals like this happen. I wouldn't bet against him today, and I may even be interested in buying shares at the current price below $30 to capture the upside of the tender. I'm not sure there's additional upside beyond that, but I think the downside risk is relatively low. 

Interested in more info on Oshkosh Corp.? Add it to your watchlist by clicking here.


Fool contributor Travis Hoium has no positions in the stocks mentioned above. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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10/25/2016 9:54 AM
OSK $52.83 Down -0.27 -0.51%
Oshkosh Corporatio… CAPS Rating: ***