An investigation for investors in NASDAQ:FDML shares was announced concerning whether the takeover of Federal-Mogul Holdings Corp. by a subsidiary of Icahn Enterprises is unfair to NASDAQ:FDML stockholders.
Investors who purchased shares of Federal-Mogul Holdings Corp (NASDAQ:FDML) and currently hold any of those NASDAQ:FDML shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain directors of Federal-Mogul Holdings Corp breached their fiduciary duties owed to NASDAQ:FDML investors in connection with the proposed acquisition.
On Sept. 06, 2016, Federal-Mogul Holdings Corp (NASDAQ:FDML) and Icahn Enterprises L.P. (NASDAQ:IEP) announced that Federal-Mogul Holdings Corp (NASDAQ:FDML) had entered into an Agreement and Plan of Merger with a subsidiary of Icahn Enterprises, Federal-Mogul Holdings Corp’s majority shareholder, pursuant to which Icahn Enterprises will offer to purchase all of the outstanding shares of Federal-Mogul Holdings Corp (NASDAQ:FDML) common stock not owned by Icahn Enterprises or its affiliates, in an all-cash transaction for $9.25 per share.
However, given that shares of Federal-Mogul Holdings Corp (NASDAQ:FDML) reached after the takeover announcement in the open market as high $9.90 per share on Setpember 22, respectively 23, the investigation concerns whether the offer is unfair to Federal-Mogul Holdings Corp (NASDAQ:FDML stockholders. More specifically, the investigation concerns whether the Federal-Mogul Holdings Corp (NASDAQ:FDML Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
On October 20, 2016, Federal-Mogul Holdings Corp (NASDAQ:FDML) shares closed at $9.26 per share.
Those who are current investors in NASDAQ:FDML shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
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