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Korea Beral shares rally on Icahn M&A hopes

Reuters – Shares in Korea Beral soared more than 11 percent after a unit controlled by activist investor Carl Icahn raised its stake in the car parts maker, fanning speculation about a possible unsolicited takeover bid.

F-M International Ltd, which belongs to auto parts maker Federal-Mogul, told South Korean regulators in a disclosure on Monday that it had raised its stake in Korea Beral to 29.20 percent as of Aug 25 from 28.69 percent.

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