The waiting period required under the Hart-Scott-Rodino Antitrust Improvement Act (HSR Act) has been terminated with respect to the cash tender offer to purchase all of the outstanding shares of Pep Boys, Bridgestone Americas said.
The tiremaker added that the tender offer condition under the HSR Act has been satisfied.
Bridgestone previously commenced a cash tender offer to purchase all outstanding shares of Pep Boys for $15 per share, without interest and less any applicable tax withholding.
The tender offer will now expire at 5 p.m. (ET) on Jan. 4, 2016, unless the offer period is extended in accordance with the definitive merger agreement and the applicable rules and regulations of the SEC, Bridgestone Americas said.
The completion of the tender offer will be conditioned on Pep Boys’ shareholders tendering at least a majority of Pep Boys’ outstanding shares, determined on a fully diluted basis, and other customary closing conditions.
