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Carl Icahn raises offer for Pep Boys, tops Bridgestone's offer
2015-12-21 15:32:24| Auto Parts - Topix.net
In this July 6, 2011 photo, technician Chris Shannon works on a costumers car at a Pep Boys Auto retail and service location, in Philadelphia. In this July 6, 2011 photo, technician Chris Shannon works on a costumers car at a Pep Boys Auto retail and service location, in Philadelphia.
Bridgestone inks deal to acquire Pep Boys for $863M
2015-12-12 03:04:48| Industrial Machines - Topix.net
Pep Boys has agreed to be acquired by Bridgestone for $863 million in cash after the tires and auto service company sweetened its offer following a bid from Carl Icahn's investment firm. Bridgestone and Pep Boys said late Friday that the new offer amounts to $15.50 for each Pep Boys share, an increase from its previous offer of $15 per share.
Icahn's bid for Pep Boys would boost aftermarket business, but not Federal-Mogul, experts say
2015-12-10 21:55:14| Auto Parts - Topix.net
If financier Carl Icahn acquires Pep Boys for $863 million, it will give a big boost to his aftermarket retail chain Auto Plus, but not so much for another Icahn asset, Federal-Mogul Holdings Corp. Together, Pep Boys and Auto Plus -- which have 800 stores and 278 locations respectively -- would comprise the fifth-largest retail auto parts chain in the United States, says Brian Sponheimer, a New York-based analyst for Gabelli Asset Management. Icahn launched his consolidation strategy in June, when he purchased Auto Plus from Canada's Uni-Select Inc. for $340 million.
Pep Boys Says Icahn's Buyout Is Better Than Bridgestone's
2015-12-09 17:51:54| Auto Parts - Topix.net
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Pep Boys Gives Bridgestone Three Days to Top Icahn's Offer
2015-12-09 16:51:33| Auto Parts - Topix.net
Pep Boys gave Bridgestone Corp. three days to top Carl Icahn's $863 million takeover offer, saying its board had determined that the billionaire investor's bid is superior to their earlier agreement. Bridgestone was notified of the board's plan to change its recommendation and terminate their agreement on Tuesday, the Philadelphia-based company said Wednesday in a statement.
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