Shareholders Approve Merger Between JLG and Oshkosh Truck
McConnellsburg, Pa.-based JLG Industries announced that its shareholders have approved the Agreement and Plan of Merger among JLG, Oshkosh Truck Corp., and Steel Acquisition Corp., a wholly owned subsidiary of Oshkosh. As a result of this approval, the merger of JLG and Oshkosh will be consummated on Dec. 6, 2006.
The original announcement of the merger between Oshkosh Truck Corp. and JLG Industries came on Oct. 16, 2006, when Oshkosh bid $3.2 billion for JLG. Upon completion of the transaction, JLG will become the largest of Oshkosh's four business segments and will create a $6 billion global specialty vehicle manufacturer. In fiscal 2008, the first full fiscal year of Oshkosh's expected ownership of JLG, Oshkosh estimates that JLG will represent approximately 40% of its consolidated sales and operating income.