Pep Boys agrees to be bought by Icahn for $1B
NEW YORK – Carl Icahn is acquiring Pep Boys for $1 billion, ending his weekslong bidding war with the Japanese tire company Bridgestone.
The deal announced Wednesday is expected to close in the first quarter of next year.
Icahn Enterprises offered $18.50 in cash for each share of Pep Boys, $1.50 more per share than the most-recent offer from Bridgestone.
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