Tenneco Automotive plans to sell 11.8 million shares of common stock in an effort to raise about $150 million to help reduce its debt and annual interest expenses. In addition to the public sale, Tenneco Automotive is granting the underwriters an option to purchase up to an additional 1.8 million shares, worth about $22.5 million. In a filing with the Securities and Exchange Commission, Tenneco Automotive says it will use the proceeds to purchase the company’s outstanding $500 million of ...
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