Federal-Mogul Corporation(FDML)- NASDAQ
  • Tue, Sep. 6, 12:08 PM
    • A subsidiary of Icahn Enterprises (IEP +1.8%) fires off an offer to acquire the remaining shares of Federal-Mogul (FDML) it doesn't own for $9.25 per share in an all-cash transaction.
    • Icahn Enterprises made an offer earlier this year at $7.00 per share.
    • Federal-Mogul’s board has recommended that Federal-Mogul stockholders accept the offer and tender their shares.
    • Shares of FDML are currently halted.
    • Source: Press Release
    | Tue, Sep. 6, 12:08 PM | 5 Comments
  • Mon, Jun. 20, 8:00 AM
    • Federal-Mogul (NASDAQ:FDML) announces that it received an increased offer from Icahn Enterprises of $8 per share.
    • The original offer from IEP was at $7 per share.
    • FDML closed at $8.15 on Friday, but were up 5% in AH trading as investors began to factor in more negotiations.
    | Mon, Jun. 20, 8:00 AM
  • Mon, Feb. 29, 7:10 AM
    • Already an owner of 82% of Federal-Mogul (NASDAQ:FDML), Icahn Enterprises (NASDAQ:IEP) offers $7 per share for the stock it doesn't have. That comes against a closing price of $4.98 on Friday.
    • The deal would need to be approved a special committee of independent directors of FDML and by a majority of non-Icahn-affiliated stockholders.
    | Mon, Feb. 29, 7:10 AM | 3 Comments
  • Jul. 14, 2014, 10:32 AM
    • Honeywell (HON +0.7%) has completed its sale of its Friction Materials business to Federal-Mogul (FDML +0.4%) with the aim of realigning its portfolio to match the company's focused industries. The deal is valued at ~$155M.
    • "The sale of the Friction Materials business is a significant step in our effort to fully align the Honeywell portfolio around Great Positions in Good Industries," says Chairman and CEO Dave Cote.
    • The company is also repositioning its Transportation Systems business segment with its Aerospace business segment to take advantage of the engineering and technology similarities between the two.
    • The realignments will have no effect on the Company's historical consolidated financial position, results of operations, or cash flows.
    | Jul. 14, 2014, 10:32 AM
  • Jan. 22, 2014, 9:13 AM
    • Federal-Mogul (FDML) acquires Affinia's chassis components business.
    • The acquisition will expand FDML's chassis product offerings as well as the number of automobiles they cover.
    • The purchase also targets efficiencies in manufacturing and logistics.
    • Previous: Honeywell to sell friction materials unit to Federal Mogul for $155M
    | Jan. 22, 2014, 9:13 AM
  • May 17, 2011, 4:52 PM

    Private equity firms Carlyle Group and Apollo Global (APO) have lost interest in pursuing Federal-Mogul (FDML -5.4%), Reuters reports, shrinking the field of potential bidders for the auto parts company. Bain Capital, Blackstone (BX) and Canada's Onex were initially interested but reportedly dropped out last month.

    | May 17, 2011, 4:52 PM