Tenneco completed the acquisition of Federal-Mogul from Icahn Enterprises for $5.4bn.

Tenneco, a supplier of replacement parts, completed the acquisition of Federal-Mogul, an American developer, manufacturer and supplier of products for automotive, commercial, aerospace, marine, rail and off-road vehicles; and industrial, agricultural and power-generation applications, from Icahn Enterprises for $5.4bn. “This is a landmark day for Tenneco with an acquisition that will transform the company by creating two strong leading global companies, each in an excellent position to capture opportunities unique to their respective markets. Federal-Mogul brings strong brands, products and capabilities that are complementary to Tenneco’s portfolio and in line with our successful growth strategies. Unleashing two new product focused companies with even stronger portfolios will allow them to move faster in executing on their specific growth priorities,” Brian Kesseler, CEO, Tenneco.