Stifel Says to Take the Money on Pep Boys (PBY); Shares No Longer Undervalued with Latest Icahn Offer

Icahn Enterprises (IEP) to Acquire Pep Boys (PBY) in ~$1.03B Deal

Icahn Enterprises L.P. (Nasdaq: IEP) and The Pep Boys Manny, Moe & Jack (NYSE: PBY) announced that they have entered into a definitive merger agreement under which a subsidiary of Icahn Enterprises will acquire Pep Boys, one of the nation's leading automotive aftermarket service and retail chains, in an all-cash transaction for $18.50 per share, or approximately $1.031 billion in aggregate equity value. The merger agreement has been unanimously approved by the Boards of Directors of both companies.

Pep Boys, headquartered in... More

Pep Boys (PBY) Deems Revised Icahn Bid as 'Superior Proposal'

The 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

Market Wrap: Markets Valeant CEO Takes Medical Leave; Icahn Boosts Pep Boys Bid; Disney Continues Seeing Box Office Magice

Market wrap for December 28th

End of the Day: S&P 500 down 4.5 to 2,056.50; Dow Jones down 23.9 to 17,528.27; Nasdaq down 7.5 to 5,040.98

Market Brief: Markets slipped amid weakened commodity prices amid the shortened holiday week. London and Australian markets were closed for Boxing Day today.

Disney recorded a strong second weekend as revenue for Star Wars: The Force Awakens rose past $1 billion globally.

Valeant CEO Mike Pearson was on leave with a severe case of pneumonia.

Amazon... More

Bridgestone pulls out of bidding war for Pep Boys

(Reuters) - Japanese tire maker Bridgestone Corp said it would not counter Carl Icahn's raised offer to buy Pep Boys - Manny Moe & Jack (NYSE: PBY), ending a bidding war for the U.S. auto parts retailer.

Icahn sweetened his... More

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

In an amended 13D filing, Carl Icahn disclosed that on December 28, 2015, Icahn Enterprises delivered to the Issuer a proposal to acquire all of the outstanding Shares of Pep Boys (NYSE: PBY) for $18.50 per Share in cash in a negotiated transaction that would not be... More