NEW YORK, Feb. 29, 2016 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the potential sale of Federal-Mogul Holdings Corporation (NASDAQ: FDML) ("Federal-Mogul" or the "Company") on behalf of its shareholders. Federal-Mogul announced that it has received a proposal from its majority shareholder, Icahn Enterprises L.P. ("IEP"), to purchase the shares of Federal-Mogul common stock not owned by IEP in a merger transaction pursuant to which the Federal-Mogul shareholders would receive $7 in cash for each of their Federal-Mogul shares. IEP owns approximately 82.0% of the outstanding shares of common stock of Federal-Mogul.
Our investigation has determined that the offer price of only $7 per share, unfairly under-values the true going forward inherent value of Federal-Mogul and that shareholders may not be receiving the maximum value for their shares. Indeed, at least one analyst projects that the true going forward inherent value of the stock is worth at least $9 per share, and the stock hit a high of $13.90 within the past year. The investigation further seeks to determine whether Federal-Mogul is entering into this deal for its own self-interests to the detriment of the Company's shareholders.
If you are a shareholder of Federal-Mogul and would like additional information as to how the proposed acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us at no cost at:
Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and has assisted in the recovery of billions of dollars for shareholders in securities actions around the globe.
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SOURCE Tripp Levy PLLC