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Icahn sweetens offer for Federal-Mogul for third time
January 3, 2017 / 3:26 PM / a year ago

Icahn sweetens offer for Federal-Mogul for third time

Jan 3 (Reuters) - Billionaire Carl Icahn’s investment firm, Icahn Enterprises LP, sweetened its offer for a third time to buy shares of Federal-Mogul Holdings Corp it does not already own.

The latest offer of $10 per share represents a discount of 3 percent to Federal-Mogul’s Friday close and is double the closing price on Feb. 26, the day before Icahn made his first offer of $7 a share.

Icahn Enterprises owns about 82 percent of the auto parts maker. (Reporting by Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty)

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