Tagged MTW

Glenview Files 13D on Manitowoc

Purpose of Transaction The Reporting Persons acquired the Shares for investment purposes, and such purchases have been made in the Reporting Persons’ ordinary course of business. The Reporting Persons expect to review from time to time their investment in the Issuer and may, depending on the market and other conditions: (i) purchase additional Shares, options…

Manitowoc to Spin Off Food Service Unit

The Manitowoc Company has approved a plan to pursue a separation of its Cranes and Foodservice businesses into two independent, publicly-traded companies. The Company currently anticipates effecting the separation through a tax-free spin-off of the Foodservice business and expects the spin-off to be completed in the first quarter of 2016. The Cranes business, which reported annual…

Icahn Wants MTW to Split Units

Purpose of Transaction The Reporting Persons acquired their positions in the Shares in the belief that they were undervalued. The Reporting Persons intend to have discussions with representatives of the Issuer’s management and board of directors relating to separating the Issuer’s Crane and Foodservice segments into two separate companies. The Reporting Persons may also seek…

Relational Looking for a Manitowoc Spin

(Market Cap $4B; Relational owns 8.52% at a a cost of $25.05 per share)   The Manitowoc Company, Inc. (the “Company”) consists of two core, yet incongruent businesses – the food business segment (the “Food business”) and the remaining business segment (the “Crane business”).  These two businesses differ materially in their operating metrics and cyclical characteristics,…

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