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Icahn Affiliate Increases Lear Offer
"The Lear board concluded unanimously that the original merger agreement with (American Real Estate Partners) was fair and in the best interests of Lear's stockholders. The increased price makes the transaction even more attractive" A group led by billionaire investor Carl Icahn has agreed to increase its offer for Lear Corp. by about 3.5 percent to about $2.9 billion, and the automotive supplier said Monday it will delay the shareholder vote on the bid.The Icahn-controlled American Real Estate Partners LP increased its price for shares of Lear common stock from $36 a share to $37.25 a share.The original offer represented a premium of about 4 percent over the stock's value at the time it was made in February by Icahn, already Lear's largest shareholder. Read more