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You are here: Home1 / Icahn Enterprises

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Pep Boys or no Pep Boys, Bridgestone aims to grow US retail presence

Company News

Bridgestone may have had the 800 outlet Pep Boys retail network snapped from it hands by Icahn Enterprises, yet the tyre maker is holding onto its growth plans in the USA. Speaking with Japanese financial publication Nikkei, Bridgestone chief executive officer Masaaki Tsuya shared on plans for 20 per cent growth in the tyre maker’s US retail network by 2020.

Read more

Related news:

  1. Icahn offer would result in ‘Superior Offer’, says Pep Boys board
  2. Pep Boys to Bridgestone: New deal or no deal
  3. Pep Boys bidding battle – Bridgestone throws in the towel
  4. Bridgestone receives payout as Pep Boys deal dies
14th January 2016/by Tyrepress Editors

Bridgestone receives payout as Pep Boys deal dies

International News

The merger agreement signed between Bridgestone Retail Operations and The Pep Boys – Manny, Moe & Jack in October 2015 has been terminated, and in its place the US automotive service and retail chain has signed a definitive agreement under which Icahn Enterprises will acquire Pep Boys for US$18.50 per share in cash. Simultaneous with the demise of the Bridgestone agreement, Icahn Enterprises, on behalf of Pep Boys, paid Bridgestone a $39.5 million termination fee

Read more

Related news:

  1. Icahn offer would result in ‘Superior Offer’, says Pep Boys board
  2. Pep Boys to Bridgestone: New deal or no deal
  3. Pep Boys bidding battle – Bridgestone throws in the towel
  4. Bridgestone matches Icahn’s Pep Boys offer
5th January 2016/by Tyrepress Editors

Pep Boys bidding battle – Bridgestone throws in the towel

Company News, International News

During the closing days of last year, Bridgestone Americas announced that the Bridgestone Retail Operations subsidiary would not counter bid the latest bid from Icahn Enterprises to acquire The Pep Boys – Manny, Moe & Jack. This meant a Happy New Year for Carl Icahn, who now looks set to add the brand and the 800+ Pep Boys outlets to his portfolio.

Read more

Related news:

  1. Icahn offer would result in ‘Superior Offer’, says Pep Boys board
  2. Pep Boys to Bridgestone: New deal or no deal
  3. Bridgestone receives payout as Pep Boys deal dies
  4. Icahn offers counterbid for Pep Boys
4th January 2016/by Tyrepress Editors

Icahn returns with higher Pep Boys offer

Company News, International News

The bidding war for The Pep Boys – Manny, Moe & Jack has entered a new round, with Icahn Enterprises L.P. offering an extra dollar per share to acquire the US automotive aftermarket retail and service network – a total of around US$56 million more than the offer it made earlier this month. This higher figure has found favour with the Pep Boys Board of Directors – after consultation with legal and financial advisors it determined on 20 December that Icahn’s proposal to acquire Pep Boys for US$16.50 per share in cash constitutes a ‘Superior Proposal’.

Read more

Related news:

  1. Bridgestone matches Icahn’s Pep Boys offer
  2. Icahn offers counterbid for Pep Boys
  3. Pep Boys to Bridgestone: New deal or no deal
  4. Pep Boys bidding battle – Bridgestone throws in the towel
21st December 2015/by Tyrepress Editors

Bridgestone matches Icahn’s Pep Boys offer

Company News, International News

After determining the US$15.50 per share merger agreement proposed by Icahn Enterprises superior to Bridgestone’s $15.00 a share deal, The Pep Boys – Manny, Moe & Jack gave the tyre maker until 5:00pm (EST) last Friday to return with new and more attractive merger terms. Bridgestone Retail Operations (BSRO) did just that, and the two parties have now amended the terms of the merger agreement originally signed on 26 October.

Read more

Related news:

  1. Icahn returns with higher Pep Boys offer
  2. Icahn offer would result in ‘Superior Offer’, says Pep Boys board
  3. Pep Boys to Bridgestone: New deal or no deal
  4. Pep Boys bidding battle – Bridgestone throws in the towel
14th December 2015/by Tyrepress Editors

Pep Boys to Bridgestone: New deal or no deal

Company News, International News

The Board of Directors at US automotive aftermarket retailer The Pep Boys – Manny, Moe & Jack has declared the US$15.50 per share merger agreement received by Icahn Enterprises superior to the $835 million Bridgestone Retail Operations was prepared to pay, not least because it isn’t subject to due diligence or financing conditions, and it contains a ‘hell or high water’ anti-trust covenant. Pep Boys have now lobbed the ball back into Bridgestone’s court, and the tyre maker has two days to come back with a better offer.

Read more

Related news:

  1. Icahn offer would result in ‘Superior Offer’, says Pep Boys board
  2. Pep Boys bidding battle – Bridgestone throws in the towel
  3. Bridgestone receives payout as Pep Boys deal dies
  4. Icahn returns with higher Pep Boys offer
10th December 2015/by Tyrepress Editors

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

Company News, International News

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.

Read more

Related news:

  1. Pep Boys to Bridgestone: New deal or no deal
  2. Pep Boys bidding battle – Bridgestone throws in the towel
  3. Bridgestone receives payout as Pep Boys deal dies
  4. Icahn offers counterbid for Pep Boys
9th December 2015/by Tyrepress Editors

Icahn offers counterbid for Pep Boys

Company News, International News

Bridgestone Americas’ cash tender offer to acquire US automotive service and retail chain The Pep Boys – Manny, Moe & Jack for US$15.00 a share has been challenged by Icahn Enterprises L.P. The New York-based master limited partnership and owner of automotive aftermarket distributor Auto Plus has written to the Pep Boys’ board, proposing to pay a cash sum of $15.50 per share to acquire the entire outstanding stake in the company – an offer it believes “clearly superior” to the Bridgestone transaction.

Read more

Related news:

  1. Icahn offer would result in ‘Superior Offer’, says Pep Boys board
  2. Pep Boys to Bridgestone: New deal or no deal
  3. Bridgestone matches Icahn’s Pep Boys offer
  4. Icahn returns with higher Pep Boys offer
8th December 2015/by Tyrepress Editors

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