The Icahn letter stated that the proposal would now not be topic to “any due diligence, financing or antitrust prerequisites.”
Previous Monday, Pep Boys famous that Icahn Enterprises prior to now presented $13.50 in keeping with percentage for the corporate at an undisclosed date. In past due October, Icahn stated it might now not building up the worth of the proposal.
In a Securities and Change Fee submitting final week, Icahn stated Pep Boys’ auto portions phase “gifts a very good synergistic acquisition alternative” for Auto Plus, which is owned through Icahn Enterprises. The billionaire investor’s representatives have held talks with Pep Boys and “more than a few events” about imaginable transactions involving its retail arm.
Pep Boys didn’t in an instant reply to a request to remark.
Supply : CNBC