Connect with us

News

Early Termination of Waiting Period for Bridgestone’s Tender Offer for Pep Boys

Advertisement

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.

Advertisement
Click Here to Read More
Advertisement

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.

 

Advertisement
Click to comment

POPULAR POSTS

Buyer Beware? Chinese Tires Mean Different Quality Levels

News

Cooper Introduces CS5, Phases Out CS4

News

Michelin Rolls Out Premier LTX

Bridgestone-Newsmakers-800x400 Bridgestone-Newsmakers-800x400

Featured

2019 Newsmakers: Bridgestone Americas

Connect