Pep Boys (PBY) Breakup is Likely Scenario - Sterne Agee CRT
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December 23, 2015 5:34 PM EST
In an amended 13D filing, Carl Icahn disclosed that he raised his stake in Pep Boys (NYSE: PBY) to 6,558,083 shares, or 12.12%.
Icahn bought 471,71 shares on 12/23 at $15.66-$15.71. The shares were bought through a forward contract.
Notably, Icahn is in a bidding war to acquire the company.
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December 23, 2015 3:44 PM EST
Bridgestone Evaluatng Options After Icahn Revises Pep Boys (NYSE: PBY) Bid - Bloomberg
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December 23, 2015 8:31 AM EST
The Pep Boys Manny, Moe & Jack (NYSE: PBY) announced that, on December 22, 2015, its Board of Directors, after consultation with its independent legal and financial advisors, determined that a revised proposal received the same day from Icahn Enterprises L.P. to acquire Pep Boys continues to constitute a "Superior Proposal" as defined in the Company's agreement and plan of merger with Bridgestone Retail Operations, LLC. The revised proposal improved the purchase price from $16.50 per share to the greater of (1)... More
