Tenneco acquires Federal-Mogul

11th April 2018 | 0 Comments
 
Tenneco acquires Federal-Mogul
Tenneco acquires Federal-Mogul

Automotive parts manufacturer Federal-Mogul is changing hands for US$5.4 billion. The new owner is vehicle ride performance and clean air products manufacturer Tenneco Inc., which yesterday signed a definitive agreement to acquire the business from Icahn Enterprises L.P. The acquisition is to be funded through cash, Tenneco equity and assumption of debt and is expected to close in the second half of 2018, subject to regulatory and shareholder approvals and other customary closing conditions.

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Category: Company News