Pep Boys Board of Directors Determines Proposal from Icahn Enterprises Is Superior to Bridgestone Transaction
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Pep Boys (PBY) Board Determines that Icahn's $15.50/Cash Bid is 'Superior Proposal'
December 9, 2015 8:31 AM ESTThe Pep Boys Manny, Moe & Jack (NYSE: PBY), the nation's leading automotive aftermarket service and retail chain, today announced that, on December 8, 2015, its Board of Directors, after consultation with its independent legal and financial advisors, determined that the proposal from Icahn Enterprises L.P. to acquire Pep Boys for $15.50 per share in cash constitutes a "Superior Proposal" as defined in the Company's agreement and plan of merger with... More
