 Carl Icahn |
Clermont Partners is covering the investment community in Tenneco's $5.4B cash/stock deal to acquire auto parts maker Federal Mogul from corporate activist Carl Icahn's Icahn Enterprises.
With the anticipated second-half closing of the deal, Tenneco will create two global independent companies to reflect the aftermarket & ride performance and powertrain technologies businesses.
CEO Brian Kesseler said FM brings strong brands, products and capabilities that are complementary to Tenneco's portfolio.
"Unleashing two new product-focused companies with even stronger portfolios will allow them to move faster in executing on their specific growth portfolios," he said in a statement.
Based in Lake Forest (IL), Tenneco has 32,000 employees and $9.3B in annual revenues.
FM, which has 55,000 workers and $7.8B in revenues, is headquartered in Southfield (MI).
Chicago-based Clermont founder Vivian Sivrais represents Tenneco.
She was deputy lead of the capital markets group at FTI Consulting's strategic communication arm before launching her IR, strategic communications firm.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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