Bridgestone’s deal

NASHVILLE: Pep Boys has agreed to be acquired by Bridgestone for $863 million in cash after the tyres and auto service company sweetened its offer following a bid from Carl Icahn’s investment firm. Bridgestone and Pep Boys said late Friday that the new offer amounts to $15.50 for each Pep Boys share, an increase from its previous offer of $15 per share. Pep Boys’ board of directors is unanimously recommending that the

company’s shareholders accept the offer. The company said that its board no longer sees Icahn’s $837.4 million buyout offer as a superior proposal. Pep Boys — Manny, Moe & Jack, based in Philadelphia, has about

800 locations around the country that sells auto parts and repairs vehicles. Bridgestone Corp is based

in Tokyo.