Pep Boys Agrees to $947 Million Bridgestone Bid, Shuns Icahn

  • Icahn says chain still undervalued, vowed to top $1.01 billion
  • Bridgestone seeking U.S. expansion as parts industry booms

Pep Boys agreed to a $947 million takeover offer from Bridgestone Corp., shunning a competing bid from billionaire investor Carl Icahn that had promised a higher price.

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