Brent Windom has been named President and Chief Executive Officer of Auto Plus and Pep Boys. Windom, a more than 30-year veteran of the automotive aftermarket who previously served as President and CEO of Auto Plus, will lead the integration of the two businesses recently acquired by Icahn Enterprises.
Icahn Enterprises L.P. today announced that it has closed its acquisition of The Pep Boys — Manny, Moe & Jack in an all-cash transaction for $18.50 per share, or approximately $1.03 billion in aggregate equity value.
Icahn Enterprises L.P. and The Pep Boys have entered into a definitive merger agreement under which a subsidiary of Icahn Enterprises will acquire Pep Boys, in an all-cash transaction for $18.50 per share, or approximately $1.031 billion in aggregate equity value. The merger agreement has been unanimously approved by the Boards of Directors of both companies.
The Pep Boys – Manny, Moe & Jack said that on Dec. 20 its Board of Directors determined that a proposal, received Dec. 18, 2015 from Icahn Enterprises L.P. to acquire Pep Boys for $16.50 per share in cash, constitutes a "superior proposal" as defined in the company's agreement and plan of merger with Bridgestone Retail Operations, LLC.
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