Icahn sweetens offer for Federal-Mogul for third time: Reuters

Billionaire Carl Icahn’s investment firm, Icahn Enterprises LP, sweetened its offer for a third time to buy shares of Federal-Mogul Holdings Corp it does not already own.

The latest offer of $10 per share represents a discount of 3 percent to Federal-Mogul’s Friday close and is double the closing price on Feb. 26, the day before Icahn made his first offer of $7 a share.

Icahn Enterprises owns about 82 percent of the auto parts maker.