Bloomberg News report
DETROIT (Feb. 29, 2016) — Federal-Mogul Holdings Corp.'s largest shareholder, activist investor Carl Icahn, has offered to buy the rest of the auto parts maker for $7 a share.
The board will appoint a committee of independent directors to review the offer, Federal-Mogul said in a statement today. The price is 41 percent above the stock's closing level on Feb. 26.