Billionaire investor Carl Icahn offered to buy Pep Boys - Manny Moe & Jack for about $ 863 million, a price above proposal of division of Bridgestone Corp
Shares of Pep Boys remained stable after the announcement of the nomination of Icahn. Shares traded price of $ 15.95 in New York.
Icahn said that Pep Boys have to sell its retail business of Auto Plus, competitor he owns, saying the combination "represents an excellent opportunity for synergistic acquisition."
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