Federal-Mogul agrees to Icahn Enterprises buyout

|About: Federal-Mogul Corporation (FDML)|By:, SA News Editor

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

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