Deals
Icahn Tops Bridgestone With $15.50-a-Share Bid for Pep Boys
- Shares trade above billionaire investor's $15.50-a-share offer
- Japan's Bridgestone had offered $15 a share in October deal
Icahn Tops Bridgestone With $863M Pep Boys Bid
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Traders in Pep Boys shares are wagering that the bidding war for the automotive-parts chain may just be beginning.
Philadelphia-based Pep Boys’ shares closed at $16.30 in New York, 5.2 percent higher than the $15.50 a share that billionaire investor Carl Icahn offered to buy the company. That bid was 3.3 percent more than the $15-a-share proposal from Bridgestone Corp. that Pep Boys agreed to in October.