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Tenneco raises $187M in public offering77 days ago
(AP:LAKE FOREST, Ill.) Tenneco Inc. said Tuesday it has raised in a public offering $187 million, which the car parts maker will use to repay debt and for general corporate purposes.
The Lake Forest, Ill., company said it sold 12 million shares in a public offering at a price of $16.50 per share.
Tenneco received $198 million in gross proceeds and about $187 million in net proceeds, after expenses.
JPMorgan Securities Inc., BofA Merrill Lynch, and Deutsche Bank Securities Inc. were joint book-running managers.
Shares dropped 32 cents, or 2 percent, to $14.67 in afternoon trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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