1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies

Lear shareholders reject Icahn deal

July 16, 2007 | About:

Lear Corp. shareholders rejected a $2.9 billion buyout offer Monday from a firm led by billionaire investor Carl Icahn, mounting enough opposition amid concerns that the bid undervalued the auto supplier.

Icahn's American Real Estate Partners LP had improved its offer in the past week to $37.25 a share, but some shareholders said Lear was worth far more and questioned whether the deal was in their best interest.

"It's a clear message to the management that the company belongs to its shareholders, not to you," said Richard Pzena, the head of the second-largest shareholder who rallied opposition to the deal.


Rating: 2.0/5 (22 votes)

Comments

vooch
Vooch - 9 years ago    Report SPAM

Please leave your comment:


More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.

User Generated Screeners


pbarker46Shiller PE
pbarker46No losses for ten years
pbarker46BV growth
OGCAMGJames Li Screen1
OGCAMGJames Li screen
marco.forzanicheap in Uptrend
pbarker46Low payout & hist. PB
mmitch14Fundamentals
adsantani1Predictability
foxjames1GROWTH
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
FEEDBACK