Carl Icahn Raises Offer for Pep Boys (PBY) to $18.50/Share

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Go back to Carl Icahn Raises Offer for Pep Boys (PBY) to $18.50/Share

Bridgestone and Pep Boys Agree on Amended Terms to Merger Agreement

December 24, 2015 4:30 PM EST

NASHVILLE, Tenn. and PHILADELPHIA, Dec. 24, 2015 /PRNewswire/ -- Bridgestone Americas, Inc. (Bridgestone) and The Pep Boys Manny, Moe & Jack (Pep Boys; NYSE: PBY) today announced that Pep Boys and Bridgestone Retail Operations, LLC (BSRO), a wholly owned subsidiary of Bridgestone, have amended their Agreement and Plan of Merger dated October 26, 2015. Pursuant to the amendment, BSRO increased the offer price to acquire all the outstanding shares of common stock of Pep Boys from $15.50 per share to $17.00 per share in cash, or approximately $947 million in aggregate equity value. The revised offer price of $17.00 per share provides... More