Icahn Unit Commences Tender Offer To Acquire Pep Boys - Quick Facts

(RTTNews) - Icahn Enterprises L.P. (IEP) announced its subsidiary, IEP Parts Acquisition LLC, is commencing a cash tender offer to purchase all outstanding shares of The Pep Boys — Manny, Moe & Jack (PBY). Upon successful closing of the tender offer, 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of Pep Boys will receive $18.50 in cash for each share of Pep Boys common stock validly tendered and not validly withdrawn in the offer, without interest and less any applicable withholding tax.

The tender offer will expire on February 2, 2016. The completion of the tender offer will be conditioned on Pep Boys' shareholders tendering at least a majority of their outstanding shares.