A recently disclosed Pep Boys investor may disrupt Bridgestone’s plans to acquire the company, the Wall Street Journal reported. On Friday, billionaire investor Carl Icahn disclosed a 12.1% stake in Pep Boys.
Icahn is interested in the retail segment of Pep Boys and has been discussing potential transactions with Pep Boys representatives, a regulatory filing said. These discussions are expected to continue and may impact Bridgestone’s purchase of the company, the Wall Street Journal reported.
Icahn said Pep Boy’s auto-parts segment presents an “excellent synergistic acquisition opportunity,” for his company Auto Plus.
With 6.6 million shares, Icahn’s Icahn Enterprises would be the second largest shareholder of Pep Boys.
Tire Review reached out to Bridgestone about Icahn’s recent announcement:
“We at Bridgestone Americas are excited about the swift and certain progress made toward finalizing our company’s acquisition of Pep Boys in early 2016. We’ve quickly received all required regulatory approvals, including those related to anti-trust, and are now in the advantageous position of completing the tender offer and acquisition in approximately 30 days,” a spokesperson said. “We are unable to comment further.”