Stephen Simpson, CFA
Stephen Simpson, CFA
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, 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.
- Source: Press Release
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.
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
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