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PHILADELPHIA, Oct 15 (Reuters) - Oshkosh Truck Corp. (OSK.N: Quote, Profile, Research) said it will acquire JLG Industries Inc. (JLG.N: Quote, Profile, Research), which makes equipment that can lift heavy materials several stories in the air, for about $3 billion, according to a report by The Wall Street Journal.
The deal will allow Oshkosh, which makes fire, military and garbage trucks, to expand into construction, the newspaper said, citing interviews with executives from both companies.
Oshkosh will pay $28 per share for JLG, and create a combined company with 13,000 employees and $6 billion in annual revenue, the newspaper said. Shares of JLG closed on Friday at $20.75 on the New York Stock Exchange.
Oshkosh and JLG could not be immediately reached for comment
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