Pep Boys shares jumped in the extended session Monday after billionaire investor Carl Icahn increased his offer for the auto parts and services retailer. Pep Boys shares rose 6.2% to $18.48. In a filing with the Securities and Exchange Commission, Pep Boys said Icahn offered $18.50 a share for the company. On Thursday, Pep Boys turned down Icahn's offer of $16.50 a share in favor of Bridgestone Corp.'s $17 a share offer. Pep Boys said that Icahn "could be willing to bid in excess of $18.50" a share, but not if Bridgestone's termination fee is raised.
Copyright © 2015 MarketWatch, Inc.