Actionable news
0
All posts from Actionable news
Actionable news in FDML: Federal-Mogul Corporation,

Icahn Enterprises Purchases Remainder of Federal-Mogul (FDML)

NEW YORK (TheStreet) --Shares of Federal-Mogul Holdings (FDML) resumed trading midday Tuesday after being halted on reports that majority shareholder Icahn Enterprises (IEP)had purchased the rest of the company.

CNBC's Kate Rogers appeared on this afternoon's "Fast Money Halftime Report" to report on the purchase.

"The all-cash offer is just one cent above the current trading price before the halt of $9.24, but represents a premium of 86% above Federal-Mogul's closing share price of $4.98 in early February," Rogers explained.

The offer of $9.25 per share is $2.25 higher than Icahn's original proposed $7 per share, Kelly...


More