Form 8-K PEP BOYS MANNY MOE & For: Dec 07

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Go back to Form 8-K PEP BOYS MANNY MOE & For: Dec 07

Pep Boys (PBY) Determines Icahn Offer as 'Superior Proposal'

December 8, 2015 8:31 AM EST

The Pep Boys Manny, Moe & Jack (NYSE: PBY) announced that its Board of Directors, after consultation with its independent legal and financial advisors, has determined that the proposal from Icahn Enterprises L.P. to acquire Pep Boys for $15.50 per share in cash (as set forth in the Company's filing with the Securities and Exchange Commission, dated December 7, 2015) would reasonably be expected to result in a "Superior Proposal" as defined in the Company's agreement and plan of merger with Bridgestone Retail Operations, LLC.

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