Carl Icahn is buying Pep Boys for $1 billion (pby)
Thomson Reuters
Billionaire investor Carl Icahn's Icahn Enterprises LP has agreed to buy Pep Boys-Manny Moe & Jack for about $1 billion, hours after Bridgestone Corp quit the race for the U.S. auto parts retailer.
Japanese tire maker Bridgestone said on Tuesday it would not raise its latest cash bid of $17 per share to counter Icahn's raised offer of $18.50 per share in cash.
Pep Boys shares fell about 3 percent in morning trading on Wednesday, while Icahn Enterprises shares declined about 1 percent. Читать дальше...