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Chicago Sun-Times
Chicago Sun-Times
National
Associated Press

EXPLAINED: Lake forest based tenneco going private in 7 1 billion deal | Rare Historical Photos

Lake Forest-based Tenneco will continue to operate under its name and brand after being acquired by private equity firm Apollo. | Timothy A. Clary/Getty

Automotive parts maker Tenneco is being taken private by funds managed by affiliates of private equity firm Apollo in an all-cash deal valued at about $7.1 billion.

The transaction includes the assumption of Tenneco’s debt. Apollo will pay $20 per Tenneco Inc. share, double from Tenneco’s closing price Tuesday of $9.98.

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