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Article: Newsmakers
- Article from:
- Equipment Today
- Article date:
- December 1, 2006
- Author:
CopyrightCopyright Cygnus Business Media Dec 2006. Provided by ProQuest LLC. (Hide copyright information)
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Oshkosh Truck Corp. has signed a definitive agreement to acquire JLG Industries, Inc., a global leader in aerial work platforms and telehandler vehicles. Oshkosh will acquire all outstanding shares of JLG for $28 per share. Total consideration, including transaction costs and assumed debt, is $3.2 billion in cash on a fully diluted basis.
JLG had $2.3 billion in revenues during fiscal 2006 and has estimated a 20% to 25% increase in sales in fiscal 2007. Completion of the transaction will create a $6 billion global specialty vehicle manufacturer.
Manufacturing of Shuttle Buggy material transfer vehicles and pavers has started at the new addition to the Roadtec facility in Chattanooga, TN. A ...