Press Release

Morgan Lewis Represents Pep Boys in its Sale to Icahn Enterprises

December 30, 2015

PHILADELPHIA, December 30, 2015: Morgan Lewis represented The Pep Boys - Manny, Moe & Jack (Pep Boys), one of the nation’s leading automotive aftermarket service and retail chains, in its sale to Icahn Enterprises L.P.  The transaction was announced on December 30.  The all-cash transaction is for $18.50 per share, or approximately $1.031 billion in aggregate equity value.  The transaction is expected to close in the first quarter of 2016. With more than 800 locations in 35 states and Puerto Rico, Pep Boys offers tires, maintenance and repair and parts and accessories.

The Morgan Lewis team advising Pep Boys on the transaction was led by partners James McKenzie and Colby Smith and associate Andrew Rocks. Team members included partners Harry Robins, David Zelikoff, Paul Gordon, Michael Pedrick, Steven Reed, Marc Sonnenfeld, Judy Walkoff and James Sims; senior counsel Joe Ronan; senior attorney Sally Liao; and associates Crystal Fang, Maria Di Lauro, Tracey Milich, Leslie Dupuy, Jason Wilson and Joseph Washington.

Read the press release issued Pep Boys and Icahn Enterprises L.P.