Icahn Enterprises Raising Money by Selling Depositary Units

Icahn Enterprises is expanding its capital base with an underwritten public offering of 1.6 million of its depositary units, the company announced Wednesday. The units represent limited partner interests in Icahn Enterprises.

The issue has been priced at a gross total of around $120.9 million, or just over $75.56 per share. Additionally, the company's underwriters have been granted a 30-day purchase option for up to an additional 240,000 units.

Icahn Enterprises said it plans to use the proceeds of the issue to "recapitalize" auto parts manufacturer Federal-Mogul, which is chaired by the company's guiding light, Carl Icahn. Currently, Icahn Enterprises has roughly 109.6 million shares outstanding, and its most recent closing stock price was $71.74.


Credit Suisse, UBS, and Leucadia's Jefferies are the joint book-running managers of the issue. It is expected to close on June 17.

link

The article Icahn Enterprises Raising Money by Selling Depositary Units originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


Increase your money and finance knowledge from home

Forex for Beginners

Learn about trading currencies and foreign exchange transactions

View Course »

Finding Stock Ideas

Learn to do your research and find investments.

View Course »

Add a Comment

*0 / 3000 Character Maximum