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Bridgestone and The Pep Boys agreed on acquisition

Staff writer ▼ | December 28, 2015
Bridgestone Americas and and The Pep Boys – Manny, Moe & Jack amended their Agreement and Plan of Merger dated October 26, 2015.
Pep Boys
Acquisition   $17 per share in cash
Pursuant to the amendment, BSRO increased the offer price to acquire all the outstanding shares of common stock of Pep Boys from $15.50 per share to $17 per share in cash, or approximately $947 million in aggregate equity value.

The revised offer price of $17.00 per share provides approximately $84 million in additional cash consideration to Pep Boys shareholders.

The Pep Boys board of directors continues to unanimously recommend that Pep Boys shareholders accept BSRO’s offer and tender their shares pursuant to that offer.

Pep Boys also announced that its board no longer deems the proposal received from Icahn Enterprises L.P. to acquire Pep Boys to be a sperior proposal.


 

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