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Mon, Feb. 1, 11:47 AM
- The Pep Boys (NYSE:PBY) acquisition by Carl Icahn isn't expected by BB&T Capital Markets to do any favors for Federal-Mogul (FDML -7.3%). Federal-Mogul has been on watch since the deal announcement due to Icahn's sizable position in the automobile supplier.
- BB&T's Tony Cristello explains: "By buying Pep Boys, (Icahn) has created a huge conflict of interest. I wouldn't be surprised if Pep Boys is the tipping point for Federal-Mogul's customers to look for other options."
Dec. 29, 2015, 6:09 PM
- It looks like Carl Icahn has won the Pep Boys (NYSE:PBY) bidding war: Bridgestone (OTCPK:BRDCY) says it won't counter Icahn Enterprises' (NASDAQ:IEP) $18.50/share offer for the auto repair shop chain. The offer, issued yesterday, topped a prior $17/share offer from Bridgestone.
- PBY -2.7% after hours to $18.43.
Dec. 29, 2015, 9:20 AM
Dec. 28, 2015, 5:39 PM
Dec. 28, 2015, 4:45 PM| Dec. 28, 2015, 4:45 PM | 10 Comments
Dec. 23, 2015, 12:19 PM
- The bidding war continues: The Nikkei reports Bridgestone (OTCPK:BRDCY) has decided to once more up its offer for Pep Boys (PBY +2.7%). No price has been given.
- The news comes shortly after Icahn Enterprises announced it would pay $0.10/share more than any Bridgestone offer up to $18.10/share. Pep Boys currently trades at $17.35.
- Prior Pep Boys coverage
Dec. 21, 2015, 8:48 AM
Dec. 7, 2015, 11:11 AM
- Pep Boys (PBY +2.7%) confirms it received notice of the 12% position acquired in the company by Carl Icahn through his entities.
- The company says the actions of Icahn could "frustrate" the deal with Bridgestone that has already been worked out.
- Shares of PBY reached a 52-week high of $16.50 today.
- Previously: Icahn discloses 12.1% Pep Boys stake, wants Auto Plus deal; shares +11.2% (Dec. 04 2015)
Dec. 4, 2015, 5:44 PM
Dec. 4, 2015, 5:37 PM| Dec. 4, 2015, 5:37 PM | 4 Comments
Oct. 26, 2015, 12:45 PM
Oct. 26, 2015, 9:15 AM
Oct. 26, 2015, 8:52 AM
- The all-cash deal works out to $15 per share for Pep Boys (NYSE:PBY), 23% above Friday's close of $12.15. It's also 62% higher than the stock price on May 9, when speculation about a purchase first began.
- The deal is expected to close early next year.
- PBY +22.65% to $14.89 premarket.
Jun. 30, 2015, 9:22 AM
- Pep Boys (NYSE:PBY) announces it will review strategic options.
- Rothschild Inc. will assist the company in the process.
- PBY +4.77% premarket.
May 20, 2015, 12:45 PM
May 20, 2015, 9:14 AM
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