Carl Icahn's automotive business has acquired a 10-store tire dealership in the state of Washington. The stores will be rebranded under the Pep Boys — Manny, Moe & Jack brand.
Icahn Enterprises L.P., the parent company of Icahn Automotive Group LLC, has acquired American Driveline Systems, a franchisor of automotive service shops with about 680 locations in the U.S. and Canada.
Icahn Automotive Group LLC is making another acquisition move, this time in Connecticut.
Icahn Automotive Group LLC is buying another automotive service provider — with more than 250 locations in 26 states.
Carl Icahn, the billionaire investor owner who started 2016 by purchasing Pep Boys — Manny, Moe & Jack — has officially joined President-elect Donald Trump's team. Trump has named Icahn a special adviser on issues related to regulatory reform.
Icahn Enterprises LP, the majority shareholder of Federal-Mogul Holdings Corp., wants full control of the auto parts supplier, and has sent a proposal to the Federal-Mogul board of directors.
After offering $18.50 per share, Icahn Enterprises LP has purchased more than 38 million shares of Pep Boys — Manny, Moe & Jack, and the merging of the two companies will follow "as soon as practicable."
The acquisition of Pep Boys — Manny, Moe & Jack by Icahn Enterprises LP is expected to be complete by late January or early February. In the meantime, a memo to Pep Boys employees leaves open the question of whether the names of the boys from Philadelphia will last.
Happy new year to the shareholders of Pep Boys — Manny, Moe & Jack. The acquisition of the Pep Boys company by billionaire investor Carl Icahn has given every shareholder 23% more cash.
The bidding over Pep Boys-Manny, Moe & Jack was similar to a boxing match, with Carl Icahn finally knocking out Bridgestone Americas Inc.
Icahn Enterprises LP isn’t giving up on its acquisition target, Pep Boys — Manny, Moe & Jack. On Dec. 28 Icahn increased its offer to $18.50 per share, outbidding Bridgestone Retail Operations LLC by $1.50 per share.
Carl Icahn seems to embrace publicity. It is in the best interest of Icahn Enterprises LLC, the company that is bidding on Pep Boys-Manny, Moe & Jack.
With Carl Icahn’s pursuit of Pep Boys-Manny, Moe & Jack dominating the news, I checked The Forbes 400 list to get an idea of how wealthy he really was. Forbes lists him as 22nd on the list with a net worth of $20.5 billion.