SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: October 9, 1998
(Date of earliest event reported)
FEDERAL-MOGUL CORPORATION
(Exact name of registrant as specified in its charter)
Michigan
(State or other jurisdiction of incorporation)
1-1511 38-0533580
(Commission File Number) (IRS Employer
Identification Number)
26555 Northwestern Highway,
Southfield, Michigan 48034
(Address of principal executive offices) (Zip Code)
(248) 354-7700 Code)
(Registrant's telephone number including area code)
The total number of pages is 5
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ITEM 2. Acquisition of Assets.
On October 9, 1998, Registrant issued a press release
announcing it has acquired Cooper Automotive, a business unit of
Cooper Industries, Inc. Additional details are set forth on the
attached public announcement. (EXHIBIT A).
2
<PAGE>
SIGNATURE
FEDERAL-MOGUL CORPORATION
By: /s/ Kenneth P. Slaby
-------------------------------
Kenneth P. Slaby
Title: Vice President, Controller
Dated: October 9, 1998
3
<PAGE>
EXHIBIT INDEX
Exhibit
Table
Number Exhibit Page
- ------- ------- ----
99 Exhibit A Registrant's Press Release 5
dated October 9, 1998
4
Exhibit 99
Contact: Kimberly A. Welch 248/354-1916
FOR IMMEDIATE RELEASE
Federal-Mogul Completes Acquisition of Cooper Automotive
- --------------------------------------------------------
Southfield, Michigan, October 9, 1998: Federal-Mogul
Corporation (NYSE:FMO) Chairman and Chief Executive Officer Dick
Snell today reported the auto parts company completed the
acquisition of Cooper Automotive, a business unit of Cooper
Idustries, Inc., (NYSE:CBE) for $1.9 billion.
"We continue to enhance our position as a leader in the
automotive industry through positive economic value added
acquisitions that are on-strategy," said Snell.
Funding for the transaction includes $1.6 billion and $350
million of 18-month and eight year facilities, respectively.
"In the last twelve months, we've raised approximately $1.5
billion of equity and placed $1 billion of attractive long-term
bonds," said Thomas W. Ryan, executive vice president and chief
financial officer, noting the company has an unutilized $600
million commited revolving line of credit. "We expect to continue
growing a profitable Federal-Mogul as we have the financial
flexibility as well as the time available to see today's
financial markets improve."
Headquartered in Southfield, Michigan, Federal-Mogul is a
$7 billion automotive parts manufacturer providing innovative
solutions and systems to global customers in the automotive,
light truck, heavy-duty, railroad, farm and industrial markets.
The company was founded in 1899 and employs 56,000 people. Visit
the company's web site at http://www.federal-mogul.com for more
information. Federal-Mogul's press releases are available by fax
through Company News On-Call, call 800-758-5804, ext. 306225.
