Icahn Boosts Offer To Acquire Federal-Mogul To $8 Per Share

Icahn boosts offer to acquire Federal-Mogul (FDML) to $8 per share Carl Icahn's Icahn Enterprises (IEP) on June 17 delivered a letter to Federal-Mogul's board of directors increasing its offer to acquire the remaining shares of the company to $8 per share from $7.

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The letter, disclosed this morning in a regulatory filing, stated, "On February 28th, we offered to acquire the remaining shares of Federal-Mogul common stock not owned by Icahn Enterprises in a merger transaction pursuant to which Federal-Mogul shareholders would receive $7.00 per share in cash for their Federal-Mogul shares. We hereby increase our offer to $8.00 per share in cash, subject to the same conditions set forth in our original offer letter. We look forward to hearing from you." Federal-Mogul, a supplier of technology in vehicle and industrial products.

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