UPDATE 1-UK Federal-Mogul pension plan rejects Icahn bid

Newswire

(Recasts first paragraph; adds quotes, byline) By Dane Hamilton NEW YORK, Aug 27 (Reuters) - The pension plan at a U.K. unit of bankrupt auto parts maker Federal-Mogul Corp. on Friday rejected a $130 million offer by financier Carl Icahn to keep it afloat, prompting a warning from bondholders that the plan may be liquidated. The plan's trustees called the offer, which was part of a $700 million bid for the assets of the U.K. car parts maker, Turner & Newall, inadequate. They said ...

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