Icahn Seeks To Boost Dana Debt Securities

Law360, New York (May 17, 2006, 12:00 AM EDT) -- With his eye firmly fixed upon the struggling auto parts industry, billionaire investor Carl Icahn is seeking to acquire another sizable portion of debt securities issued by bankrupt Dana Corp., potentially putting him in a position to help mold the beleaguered supplier’s reorganization.

Icahn’s company, American Real Estate Holdings LP, revealed its designs on Dana in a filing with the U.S. Bankruptcy Court in Manhattan, as the court prepares to hold a hearing on the matter this week.

Currently, American Real Estate possesses at least $101.25...
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