1. Icahn to sell Federal-Mogul to Tenneco for $5.4 billion

    Icahn to sell Federal-Mogul to Tenneco for $5.4 billion

    Activist investor Carl Icahn said on Tuesday he was selling auto parts maker Federal-Mogul to Tenneco Inc in a $5.4 billion deal, unloading an investment he has held for nearly two decades and picking up a new stake in Tenneco.

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    1. Going to market with well-recognized brands, more product categories, greater coverage and expanded distribution capabilities is a strong formula for capturing growth, particularly in China.
    2. We expect to be meaningful stockholders of Tenneco going forward.
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