February 9, 2015 / 2:36 PM / 3 years ago

Crane maker Manitowoc settles with Carl Icahn

Feb 9 (Reuters) - Crane maker Manitowoc Co Inc said activist investor Carl Icahn will have the option to nominate a person to the company’s board as part of a settlement agreement.

Icahn, the company’s second-largest shareholder, will also have the right to nominate a person to the board of the company’s food services business after its spinoff.

The company decided to spin off its high-margin food services business in January following a push by investors including Icahn. (Reporting by Ankit Ajmera in Bengaluru)

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