Icahn Selling Federal Mogul to Tenneco for $5.4 Billion

Icahn Selling Federal Mogul to Tenneco for .4 Billion

Auto parts maker Tenneco is buying Federal-Mogul from Carl Icahn’s Icahn Enterprises in a deal worth $5.4 billion in cash and stock. Tenneco will then separate the combined companies into two separate stocks in a tax-free spinoff, one focusing on “aftermarket and ride performance,” the other on “powertrain technology.” “We expect to be meaningful stockholders … Read more

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