Bridgestone pulls out of bidding war for Pep Boys
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Pep Boys (PBY) Deems Revised Icahn Bid as 'Superior Proposal'
December 29, 2015 6:11 AM ESTThe Pep Boys Manny, Moe & Jack (NYSE: PBY) announced that, on December 28, 2015, its Board of Directors, after consultation with its independent legal and financial advisors, determined that a proposal, received in the afternoon of December 28, 2015, from Icahn Enterprises L.P. to acquire Pep Boys for $18.50 per share in cash, constitutes a "Superior Proposal" as defined in the Company's agreement and plan of merger with Bridgestone Retail Operations, LLC.
As part of its proposal, Icahn Enterprises delivered to... More
