Lear Jets Higher on Icahn Bid

Automakers

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TSC Staff

02/05/07 - 09:43 AM EST

Lear (LEA ) surged 15% Monday after fielding a takeout offer from a Carl Icahn-led company.

The Southfield, Mich., auto supplier said Icahn's American Real Estate Partners offered to buy Lear for $36 a share in cash following discussions with the company.

Lear said it would consider the proposal, which would allow Lear management to stay on.

Shares rose $5.18 to $39.85.

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