(Reuters) – Auto parts maker Tenneco Inc (TEN.N) said on Tuesday it would buy Federal-Mogul, a maker of powertrain components, from Icahn Enterprises LP (IEP.O) for $5.4 billion.
Tenneco also said it would separate its combined businesses into two independent, publicly traded companies.
Reporting by Arunima Banerjee in Bengaluru; Editing by Saumyadeb Chakrabarty