Congratulations to Tenneco who announced they are buying Federal-Mogul L.L.C. in a deal valued at $5.4 billion. This acquisition will bring together two of the largest suppliers of aftermarket automotive components.
Tenneco, a global manufacturing company, said Tuesday it signed a definitive agreement to acquire Federal-Mogul, a global supplier for original equipment manufacturers (OEMs) and the aftermarket.
The company acquired Federal-Mogul from Icahn Enterprises L.P., the investing arm of billionaire investor Carl Icahn, for $5.4 billion through a combination of $800 million in cash, 29.5 million shares of Tenneco’s common stock and assumption of debt.
The acquisition is expected to close in the second half of 2018.
Read more about this acquisition.
Link to Crain’s Detroit Business
Article by Dustin Walsh
Published April 10, 2018