#bridgestone

You’ve made some bad decisions at the holiday office Christmas party. We’ve all done it. Don’t compound it by using a (probably inaccurate) free breathalyzer that you picked up at a Honda dealer instead of a cab ride.

That, and Subaru is turning production up to “11,” Hyundai was hit hard in China and Nevada’s rolling the dice on electric cars … after the break.

After disclosing that he had purchased a 12-percent stake of the company, billionaire investor Carl Icahn submitted an offer of $863 million for the Pep Boys chain of automotive parts stores, according to the New York Times.

Icahn’s offer Tuesday of $15.50 per share is higher than Bridgestone’s offer of $15 per share in October for the chain of 800 stores. The Japanese tire giant offered to buy the chain to add to its 2,200 stores including Tires Plus, Firestone Complete Auto Care, Hibdon Tires Plus and Wheel Works to make one of the largest parts, tire and service chains in the U.S.

Pep Boys’ deal with Bridgestone included a $35 million breakup fee, according to the Wall Street Journal, which Icahn is willing to pay as part of his offer. Officials at Pep Boys said publicly that Icahn’s offer could be a “superior proposal” to the Bridgestone deal.

Billionaire investor Carl Icahn disclosed a 12-percent ownership stake in Pep Boys and said that Auto Plus, a competitor which he owns, should consider buying the retail parts giant, Bloomberg reported.

In October, Bridgestone offered to purchase Pep Boys’ 800 company-owned stores for $835 million to add to its portfolio of 2,200 stores including Tires Plus, Firestone Complete Auto Care, Hibdon Tires Plus and Wheel Works. The acquisition would create the largest chain of automotive service centers, yet many analysts say Bridgestone may be preparing Pep Boys for a potential sale already.

That tender offer from Bridgestone will expire Jan. 4, according to the report.

Japanese tire giant Bridgestone agreed Monday to buy Pep Boys for $835 million and potentially create the largest chain of U.S. automotive service centers, the companies announced.

The deal would create a chain of more than 3,000 auto care stores — 2,200 Bridgestone-owned centers including Tires Plus, Firestone Complete Auto Care, Hibdon Tires Plus and Wheel Works, and more than 800 company-owned Pep Boys stores.

According to the companies the deal will finalize in early 2016.