Federal-Mogul Holdings Corp (FDML) Stock Soars on Carl Icahn Bid

Federal-Mogul Holdings Corp (NASDAQ:FDML) stock is through the roof following news of a Carl Icahn bid.


The billionaire investor is looking to acquire the rest of the shares of FDML stock that he doesn’t own. Icahn Enterprises is offering $7 per share for the remaining stock of Federal-Mogul.

The billionaire investor and his firm currently own about 82% of Federal-Mogul. The company will form a special committee of independent directors who will review and evaluate the proposal, along with the consultation of external advisers.

Federal-Mogul also reported its fourth-quarter results, posting flat revenue of $1.8 billion and a net loss of $58 million. The company posted a net loss of $185 million in the year-ago period.

FDML stock is up 44.8% Monday.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/02/federal-mogul-fdml-stock-carl-icahn/.

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