Bridgestone Americas, Inc. announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976 (HSR Act), as amended, has been terminated with respect to the cash tender offer by its wholly owned subsidiary, TAJ Acquisition Co., to purchase all of the outstanding shares of The Pep Boys – Manny, Moe & Jack. Accordingly, the tender offer condition with respect to the expiration or termination of the applicable waiting period under the HSR Act has been satisfied.
Bridgestone previously announced on Monday, November 16, 2015, that TAJ Acquisition Co., a subsidiary of Bridgestone Retail Operations, LLC had commenced a cash tender offer to purchase all outstanding shares of Pep Boys for US$15.00 for each share, without interest and less any applicable tax withholding.
The tender offer will expire at 5:00 p.m. (New York City time) on Monday, January 4, 2016, unless the offer period is extended in accordance with the definitive merger agreement and the applicable rules and regulations of the SEC. 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.