Icahn Enterprises, Carl Icahn’s investment company, has offered to buy the remaining 18% of Federal-Mogul Holdings Corp.
Icahn Enterprises currently own the other 82% of Federal-Mogul and has offered $7 a share for the company. Following this news, shares of the Federal-Mogul Holding Corp. soared over 40%.
It’s said that Icahn Enterprises has taken a focus on the auto business after a year of slow growth in its energy business.
You can read more about the offer at Fortune.com.
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