Carl Icahn wants Oshkosh Corp., Oshkosh, Wis., to spin off its JLG division into a separate company. According to an SEC filing, representatives of Icahn’s various investment groups, which own 9 percent of Oshkosh, had discussions with Oshkosh management on Aug. 9.

In those discussions, Icahn or his representatives expressed that the value of JLG exceeds the value of Oshkosh and its value would not be recognized by shareholders in the foreseeable future. Icahn suggests JLG's performance has improved enough for it to operate as a stand-alone business and that Oshkosh should immediately pursue a tax-free spinoff to shareholders.