Proskauer Advises Icahn Enterprises in its $1 Billion Acquisition of Pep Boys

NEW YORK--()--International law firm Proskauer represented longtime client Icahn Enterprises L.P. (NASDAQ: IEP) in its tender offer to acquire The Pep Boys – Manny, Moe and Jack (NYSE: PBY) in an all-cash transaction for $18.50 per share, or approximately $1.031 billion in aggregate equity value. The transaction, which has been unanimously approved by the boards of directors of both companies, is expected to close in the first quarter of 2016.

Icahn Enterprises, a master limited partnership, is a diversified holding company with 10 primary business segments: investment, automotive, energy, metals, railcar, gaming, mining, food packaging, real estate and home fashion.

Pep Boys, one of the nation’s leading automotive aftermarket and retail chains, which was founded in 1921, offers tires and automotive maintenance, repair, parts and accessories in more than 800 locations in 35 states and Puerto Rico.

The Proskauer team was led by Corporate partner Julie Allen, who co-heads the Firm’s Capital Markets Group and is a member of the Mergers & Acquisitions Group. The team also included associates Michael Saliba and Van Whiting (Corporate); and partner Martin Hamilton and associate Amy Zelcer (Tax).

About Proskauer

From the middle to the high end of the market, Proskauer’s Corporate Department handles mergers & acquisitions and capital markets transactions for companies in nearly every major business sector, including business services, chemicals, defense, entertainment, financial services, health care, life sciences, lodging and gaming, manufacturing, private equity, publishing, real estate, retail, sports, technology and telecommunications.

Proskauer advises on public and private company transactions involving all aspects of buying, selling and combining companies and businesses. We represent a broad cross section of bulge bracket, middle-market and boutique investment banks, as well as public and private companies of all sizes and industries around the world, in a wide variety of public, Rule 144A and Regulation S, and private debt and equity transactions.

Contacts

Proskauer
Stefanie Marrone
Associate Director of Communications
212-969-3302
smarrone@proskauer.com