Federal-Mogul Holdings Trading Above Carl Icahn’s Buyout Offer

According to Yahoo! Finance, at least one analyst has issued a price target for Federal-Mogul stock at $9.00 per share.

Much of Icahn’s investment fund loss was incurred previous year during the final quarter when it dropped 15.5%.

Eliminating charges for restructuring, earnings for the company were 22 cents a share. First, the transaction must be approved by a special committee of independent directors of Federal-Mogul (none of the members of which are affiliated with Icahn Enterprises or its affiliates) that has been empowered to freely select its own advisors and to reject the transaction definitively should that be its business judgment. BB&T Corp. reaffirmed a “hold” rating on shares of Federal-Mogul Holdings Corp in a research report on Tuesday, February 2nd. Federal-Mogul Holdings Corp (NASDAQ:FDML) has declined 50.74% since July 23, 2015 and is downtrending.

Other institutional investors recently made changes to their positions in the company. Gabelli Funds LLC now owns 1,917,375 shares of the company’s stock worth $13,134,000 after buying an additional 65,540 shares in the last quarter. It also slaps a value of about $1.2 billion on the auto parts manufacturer.

Federal-Mogul today reported net losses of US$58mln for its fourth quarter. In the pre-market this morning, shares are already at $7.18 per share, a premium over even the proposed acquisition price. The Powertrain segment focuses on original equipment products for automotive heavy duty and industrial applications.