UPDATE 1-WCI shares plunge 23 pct after no bid arrives

(Reuters) - Hedge fund investor Carl Icahn pushed the company to put
itself up for sale and offered to buy it for $22 per share, but
WCI rejected the offer.




The company said in May it would continue to pursue
offers.


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UPDATE 3-Lear accepts sweetened Icahn bid, Pzena not swayed

(Reuters) - CHICAGO, July 9 - Billionaire investor Carl
Icahn's American Real Estate Partners LP raised its
takeover offer for Lear Corp. to about $3 billion, but
the auto parts maker's second biggest shareholder remained
unconvinced.




Pzena Investment Management LLC, which holds some 6.6
million Lear shares, or an 8.6 percent stake, said it plans to
vote against investor Icahn's latest offer for the auto parts
company, saying the company should remain independent.


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Pzena says to vote no to latest Lear offer

(Reuters) - Icahn offered $36 per share previously and said he wouldn't
raise the offer. Icahn could not be reached for comment.




"We're voting against this," said Pzena, whose firm is
Lear's second-biggest stockholder. "We're not looking for an
extra dollar."


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Icahn says has no plans to raise Lear bid

(Reuters) - Icahn's offer for Lear has faced criticism from some shareholders who have said the price was too low.




Lear shares were recently trading unchanged at $36.45 on the New York Stock Exchange.


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ISS says Icahn's Lear bid not high enough

(Reuters) - A special committee of the Lear board supports the bid, while one of Lear's largest shareholders, Pzena Asset Management, said in a statement on Tuesday that the Icahn offer was too low.




Lear was not immediately available for comment.


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UPDATE 2-Lear raises outlook, affirms support for buyout

(Reuters) - CHICAGO, June 19 - Lear Corp. raised its
earnings outlook on Tuesday, but not enough for a special
committee of its board to change its support for billionaire
investor Carl Icahn's $2.86 billion bid for the U.S. auto parts
maker.




The company, which produces automotive seating and
electronics, attributed the higher forecast for the second
quarter and full year mainly to higher-than-expected
light-truck production in North America.


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Lear raises outlook on strong light-truck market

(Reuters) - The company, which also reiterated its support for a takeover bid by Carl Icahn, its largest shareholder, raised its second-quarter earnings outlook to a range of $215 million and $225 million, up from $180 million to $200 million.



Lear also raised its full-year core operating earnings estimate to between $600 million and $640 million from $580 to $620 million. It said vehicle production levels in North America should be steady for the rest of the year.


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