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March 8, 2021
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LEAR-ICAHN
(2007-07-09)
(wgvu) - LEAR SAYS A GROUP LED BY BILLIONAIRE INVESTOR
CARL ICAHN AGREED TO INCREASE THE OFFER PRICE IN ITS TAKEOVER BID
FOR THE AUTOMOTIVE SUPPLIER.
THE COMPANY SAYS THE MOVE WILL AGAIN DELAY ITS ANNUAL MEETING --
WHERE A SHAREHOLDER VOTE IS SCHEDULED TO TAKE PLACE.
THE ICAHN-CONTROLLED AMERICAN REAL ESTATE PARTNERS INCREASED ITS
PRICE FOR SHARES OF LEAR COMMON STOCK FROM $36 A SHARE TO $37.25 A SHARE.
LEAR ALREADY HAD MOVED ITS ANNUAL MEETING FROM JUNE 27 TO
THURSDAY AMID SHAREHOLDER CRITICISM OF THE DEAL. IT SAYS IT WILL
ADJOURN THURSDAY'S MEETING IN WILMINGTON DELAWARE WITHOUT A VOTE
AND MOVE IT TO JULY 16.
SOUTHFIELD-BASED LEAR'S PRODUCTS INCLUDE SEATS AND ELECTRONIC
SYSTEMS FOR ALL MAJOR AUTOMAKERS.
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