Icahn offer would result in ‘Superior Offer’, says Pep Boys board

9th December 2015 | 0 Comments
 
Icahn offer would result in ‘Superior Offer’, says Pep Boys board

US automotive aftermarket chain The Pep Boys – Manny, Moe & Jack gives word that its Board of Directors have determined the proposal from Icahn Enterprises L.P. to acquire Pep Boys for US$15.50 per share in cash would be expected to result in a “Superior Proposal” (as defined in the company’s agreement and plan of merger with Bridgestone Retail Operations, LLC). This opinion was reached after consultation with the company’s independent legal and financial advisors, however at this stage Pep Boys are still on track to take up the Bridgestone share offer.

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Category: Company News, International News

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