Carl Icahn Offers to Acquire Pep Boys (PBY) for $15.50/Share

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Go back to Carl Icahn Offers to Acquire Pep Boys (PBY) for $15.50/Share

Pep Boys Receives Notice of Icahn Ownership Interest

December 7, 2015 8:30 AM EST

PHILADELPHIA--(BUSINESS WIRE)-- The Pep Boys Manny, Moe & Jack (NYSE: PBY), the nations leading automotive aftermarket service and retail chain, today confirmed that on December 4, 2015, it received notice that Carl C. Icahn and affiliated entities (Icahn) filed a Schedule 13D, on December 4, 2015, disclosing its beneficial ownership of approximately 12% of Pep Boys Common Stock. The Schedule 13D also disclosed that Icahn had engaged in prior discussions with the Company regarding Icahns interest in Pep Boys and, in particular, its retail business.

As previously announced on October 26, 2015, following a thorough review of strategic alternatives to enhance shareholder value that... More