MILWAUKEE (AP) - Oshkosh Truck Corp., which manufactures a wide range of military and nonmilitary vehicles, plans to acquire JLG Industries Inc., a maker of aerial work platforms, booms and related devices, in a deal worth about $3 billion, a newspaper reported Sunday.
The acquisition positions Oshkosh Truck, based in Oshkosh, Wis., to benefit from a global boom in nonresidential construction, the Wall Street Journal reported on its Web site.
Products of JLG, based in McConnellsburg, Pa., include equipment that lifts workers and heavy materials several stories. Vehicles produced by Oshkosh Truck include military, fire, garbage and concrete trucks.
According to the report, the all-cash deal, valued at $28 per JLG share, would create a company with $6 billion in annual revenue and 13,000 employees, and Oshkosh Truck would assume about $200 million in debt.