Icahn Cinches Federal-Mogul Buyout
Investor Carl Icahn, who already owned 87% of supplier Federal-Mogul Corp., finalized a $300 million bid today to buy the publicly traded company outright.
The billionaire's Icahn Enterprises LP has been trying to acquire outstanding shares in Federal-Mogul since last February, when it bid $7 per share. The tender offer rose to $8 in June, $9.25 in September and $10 early this month.
The latest offer attracted 58% of the remaining shares, thereby enabling Icahn to complete the acquisition and take Federal-Mogul private.
I'm not talking about a plastic Revell model of a '57 Chevy, but a real vehicle, one that rolls off an assembly line in 1999 with another 99,999 just like it right behind. Is it possible, or is this just a fantasy of the marketing department at Elmer's?
Effective management is a timeless skill—as demonstrated by this treasure of an article from the AutoBeat Group archive. Although the tools of the trade have changed and proliferated, the basics remain the same. Here are 8 old school (and just darn practical) rules for being an excellent manager.
Delegates to the United Auto Workers union’s annual convention in Detroit have overwhelmingly approved a 31% raise for their salaried international leaders.