Icahn Enterprises Makes Bid to Acquire Rest of Federal Mogul's Stock
Feb. 29, 2016—Carl Icahn’s company, Icahn Enterprises, is making a bid to acquire the rest of auto supplier Federal-Mogul's stock that it does not currently own, according to a report by USA Today.
The offer is $7 per share for the remaining stock. Icahn Enterprise currently owns roughly 82 percent of Federal-Mogul.
Federal-Mogul said it would form a committee of independent directors who will review the proposal in consultation with external advisers, according to the report.
The move comes about two months after Icahn acquired Pep Boys.