NEW YORK—Icahn Enterprises L.P.'s $18.50 per-share tender offer for Pep Boys—Manny, Moe & Jack's outstanding shares will expire at midnight Feb. 2.
Upon successful closing of the tender offer, Icahn said, shareholders of Pep Boys will receive $18.50 in cash for each share of Pep Boys common stock validly tendered and not validly withdrawn in the offer, without interest and less any applicable withholding tax.
Icahn Enterprises, operated by acquisition stalwart Carl Icahn, is carrying out the acqusition through IEP Parts Acquisition L.L.C., a wholly owned subsidiary.
As part of the deal, Icahn Enterprises has filed a Schedule TO with the U.S. Securities and Exchange Commission that sets forth the terms and conditions of the tender offer.
Icahn said it reserves the right to extend the deadline in accordance with the definitive merger agreement and the applicable rules and regulations of the SEC.
The completion of the tender offer depends on Pep Boys' shareholders' tendering at least a majority of the company's outstanding shares, determined on a fully diluted basis, and other customary closing conditions, Icahn said.
Requests for documents and questions regarding the tender offer may be directed to D.F. King & Co. Inc. at 212-269-5550 or 866-620-2536, or by email at [email protected] to discuss how Triangle Tire USA can help them grow their businesses and serve their customers.