Carl Icahn Ups Stake in Federal-Mogul Corp. (FDML)VW Staff
Activist investor, Carl Icahn, has acquired an additional stake in Federal-Mogul Corporation (NASDAQ:FDML), a subsidiary of Icahn Enterprises L.P., in a series of three transactions beginning, July 26th to 30th, according to the company’s SEC Form 4 filing.
The biggest buyout came on July 26, when Icahn acquired 30,00o Federal-Mogul Corp. shares, at a price of $9.0468 per share, for a total worth $76,415,255. The following day, July 27, Icahn acquired an additional 1,800 shares at a price of $9.1558 per shares, to bring his total acquisition in a two days to 31,800 shares, worth $76,417,055.
Yesterday, Icahn wrapped up his additional stake in Federal-Mogul Corp. when he acquired yet another 100 shares at a price of $9.255 per shares, to bring a total 31,900 shares or $76,417,155, based on the various purchase prices.
Elsewhere, Reuters notes, that the Southfield, Michigan based company has expanded its product information, related data, which is available through the FMe-cat.com Web Catalog, to include images, product specifications, buyer’s guide information, and more – through each part lookup.
FDML has a market cap of $933.65 million as compared to its competitors, Dana Holding Corporation (NYSE:DAN) and GKN plc (LON:GKN) (PINK:GKNLY), which have market a capitalization of $1.96 billion and $5.25 billion respectively. FDML’s is nearly entirely held by institutions, with 96.90% of its shares falling under this group of investors, while only o.o6% is held by insiders.
The company has 98.90 million shares outstanding, with 22.46 million or 22.7% of those floated. FDML stock price has tanked nearly 47% in relation to the highest stock price realized over the last 12 months, as compared to S&P 500’s rally of 10.47% in the same period.