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› Icahn's bid for Pep Boys would boost aftermarket business, but not Federal-Mogul, experts say
Icahn's bid for Pep Boys would boost aftermarket business, but not Federal-Mogul, experts say
2015-12-10 21:55:14| Auto Parts - Topix.net
If financier Carl Icahn acquires Pep Boys for $863 million, it will give a big boost to his aftermarket retail chain Auto Plus, but not so much for another Icahn asset, Federal-Mogul Holdings Corp. Together, Pep Boys and Auto Plus -- which have 800 stores and 278 locations respectively -- would comprise the fifth-largest retail auto parts chain in the United States, says Brian Sponheimer, a New York-based analyst for Gabelli Asset Management. Icahn launched his consolidation strategy in June, when he purchased Auto Plus from Canada's Uni-Select Inc. for $340 million.
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Category:Automotive
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