Icahn Announces 7.77% Stake In Manitowoc; Seeks Breakup

(RTTNews) - Activist investor Carl Icahn announced a 7.77% stake in Manufacturer of foodservice equipment, cranes and ships Manitowoc Co., Inc. (MTW).

Icahn said he plans to have discussions with the company's management and board of directors relating to separating the company's Crane and Foodservice segments into two separate companies. He may also seek shareholder board representation if appropriate.

According to the filing, Icahn may be deemed to beneficially own, in the aggregate, 10.53 million shares (including Shares underlying call options), representing about 7.77% of the company's outstanding Share.