Bidding war erupts for Pep Boys

Activist investor Carl Icahn has offered to buy Pep Boys-Manny, Moe & Jack in a deal valuing the U.S. auto parts retailer at about $837 million, trumping Bridgestone's offer of $810 million in October.



In a Securities and Exchange Commission filing last week, Icahn said Pep Boys' auto parts segment "presents an excellent synergistic acquisition opportunity" for Auto Plus, which is owned by Icahn Enterprises. The billionaire investor's representatives have held talks with Pep Boys and "various parties" about possible transactions involving its retail arm.



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