$6.780
+0.050 (+0.74%)Al cierre
Noticias de IEP
Eventos de IEP
Oppenheimer: Icahn Enterprises Sells Pep Boys for Approximately $700M
Oppenheimer notes that according to The Wall Street Journal, Icahn Enterprises (IEP) has agreed to sell auto service chain Pep Boys to privately-owned Mavis Tire Express for roughly $700M in cash. As it contemplates the news of the acquisition of Pep Boys by Mavis, the firm believes the transaction could imply a sale of Monro (MNRO). Oppenheimer tends to believe that Icahn Enterprises divesting the company's stake in Pep Boys heightens potential for the organization or another group to acquire Outperform-rated Monro.
Mavis Tire to Acquire Pep Boys for Approximately $700M
Mavis Tire Express Services and Icahn Enterprises announced that they have entered into a definitive agreement pursuant to which a subsidiary of Mavis will acquire The Pep Boys-Manny, Moe & Jack Holding from Icahn Automotive Group, a subsidiary of IEP, for approximately $700M in cash, subject to customary purchase price adjustments. IEP will retain the owned real estate previously transferred to IEP from Pep Boys, as well as the AAMCO Transmissions and Precision Tune Auto Care Businesses. The transaction is expected to close in the coming months, subject to satisfaction or waiver of customary closing conditions.
Q1 Revenue Reaches $2.31 Billion
Reports Q1 revenue $2.31B vs. $1.87B last year.
Icahn Enterprises Appoints Ted Papapostolou as CEO
Icahn Enterprises announced the promotion of Ted Papapostolou, CFO, to President and CEO, effective May 6. Papapostolou has served as Chief Financial Officer of Icahn Enterprises since November 2021, a member of the board of directors since December 2021, and as Secretary since April 2020. In connection with the promotion of Papapostolou, Icahn Enterprises also announced the resignation of Andrew Teno as President and CEO and as a member of the board of directors. Teno is departing to relocate with his family to another state and will pursue another opportunity closer to his new home. Robert Flint, who has served as Chief Accounting Officer of Icahn Enterprises since December 2023 and will continue in that role, has been promoted to CFO, succeeding Papapostolou in that role, and was also appointed as a member of the board of directors. Mr. Flint previously served as Director of Accounting since November 2021 and the Chief Audit Executive from March 2020 to November 2021. Prior to joining Icahn Enterprises, Flint was an independent management consultant, serving a variety of clients and industries, including Icahn Automotive Group.
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