NEW YORK (Aug. 14)—Greenway Partners L.P., Greenbelt Corp. and affiliates increased their holdings in Tenneco Automotive Inc. to 9.5 percent of the automotive supplier´s outstanding shares between June 16 and Aug. 10, according to documents filed with the Securities and Exchange Commission. Greenway, a New-York based investment firm, is run by Alfred Kingsley and Gary Duberstein, former associates of corporate raider Carl Icahn, according to Bloomberg News Service. Kingsley, Duberstein and numerous businesses they acquired the 3.2 million shares through said they bought shares solely because they are undervalued.
Security investment firms purchase 9.5 percent of Tenneco Automotive
Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].