Carl Icahn Discloses Stake In Manitowoc, Urges Company To Split
Activist investor Carl Icahn disclosed a 7.7 percent stake in Manitowoc Company Inc (NYSE: MTW) on Monday, according to a 13D filing.
Based on the 13D filing, Icahn intends to hold discussions with the company's management and Board of Directors relating to the separating of the company's Crane and Food service segments into two separate companies.
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The filing also shows that Icahn believes shares are “undervalued” and that discussions with the company have not yet been held.
Shares of Manitowoc were trading higher by more than 11 percent during Monday's pre-market trading session. The stock closed Friday at $20.92.
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