Publicly traded automotive service chain Pep Boys has engaged Joele Frank for PR support as it nixes a merger plan with Bridgestone Retail in favor of a larger cash offer from investor Carl Icahn.
Philadelphia-based Pep Boys said Wednesday that its board deemed Icahn's $15.50-per-share pitch a superior proposal to its October agreement and subsequent $15-per-share tender offer by Bridgestone. The board said it intends to terminate the Bridgestone deal.
Joele Frank founding partner Dan Katcher leads the Pep Boys work for the firm.
Proxy solicitation and financial comms. firm D.F. King & Co. is aiding Nashville-based Bridgestone.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
WPP reported Q3 revenues less pass-through costs tumbled 5.9 percent to $3.3B, a performance new CEO Cindy Rose called “unacceptable.”
