NEW YORK — Activist investor Carl Icahn has taken a 7.77 percent stake in the crane maker Manitowoc and is pushing for the company to split into two, according to a regulatory filing Monday.
Shares of Manitowoc jumped more than 11 percent in premarket trading.
In a filing with the Securities and Exchange Commission, Icahn said he plans to speak to Manitowoc ‘s management about splitting its crane-making business from its foodservice equipment unit, which makes ice makers, ovens and grills for businesses.
Icahn said that he hasn’t talked to the company’s management or board yet. Manitowoc, based in Manitowoc, Wisconsin, did not immediately respond to a request for comment early Monday.
Shares of Manitowoc Co. began to decline sharply over the summer and have tumbled almost 40 percent since July.