Canada's Uni-Select Inc said it would sell its U.S. auto parts distribution business to activist investor Carl Icahn's investment company Icahn Enterprises LP for about $340 million.Icahn Enterprises said in a regulatory filing that the business acquired from Uni-Select would be operated independently from its auto parts subsidiary Federal-Mogul Holdings Corp.Carl Icahn will resign as Federal-Mogul's chairman and member of its board before the deal closes. Daniel Ninivaggi, the company's co-chief executive and director, will also step down as a director of Icahn Enterprises.The deal, expected to close in the first half of 2015, includes nearly all the assets of Uni-Select USA Inc and Beck/Arnley Worldparts Inc, Uni-Select said in a statement.
Federal-Mogul Holdings Corp, formerly Federal-Mogul Corporation, is a global supplier of technology and innovation in vehicle and industrial products for fuel economy, emissions reduction and safety systems. Shares of FDML fell by 2.11% or $-0.33/share to $15.31. In the past year, the shares have traded as low as $13.06 and as high as $21.12. On average, 145555 shares of FDML exchange hands on a given day and today's volume is recorded at 152712.
Icahn Enterprises L.P. (Icahn Enterprises) is a diversified holding company. Shares of IEP traded higher by 0.39% or $0.39/share to $100.83. In the past year, the shares have traded as low as $86.09 and as high as $118.81. On average, 124073 shares of IEP exchange hands on a given day and today's volume is recorded at 105228.
Uni-Select Inc. is a Canada-based company, engaged in distribution of replacement parts, equipment, tools, accessories, paint and related products in the North American automotive aftermarket. Shares of UNS traded higher by 1.07% or $0.34/share to $32.14. In the past year, the shares have traded as low as $25.01 and as high as $32.31. On average, 24152 shares of UNS.TO exchange hands on a given day and today's volume is recorded at 59356.
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