American Real Estate Partners, L.P. ("AREP") today publicized that the stockholders of Lear Corp. ("Lear") have not permitted the proposed merger of AREP's subsidiary with Lear. As an end result AREP's merger contract with Lear has terminated.
Mr. Icahn said that he respects the vote of the Lear stockholders. However, he said that considering that AREP presented over twice the price that Lear stock traded at just about one year ago, he believes that AREP offered a full and fair price. Mr. Icahn stated that he and his affiliates keep on being large stockholders of Lear and that he hopes the company well.