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Energy

Bridgestone raises offer for Pep Boys, trumps Icahn

A Pep Boys auto parts store is shown in Encinitas, California December 8, 2015. REUTERS/Mike Blake

(Reuters) - Japanese tire maker Bridgestone Corp 5108.T raised its offer for Pep Boys-Manny, Moe & Jack PBY.N to about $947 million, trumping activist investor Carl Icahn's current $900 million bid.

The latest Bridgestone offer of $17 per share was $1.50 above of its earlier bid.

Icahn’s latest offer for Pep Boys was $16.50 per share.

Reporting by Yashaswini Swamynathan in Bengaluru

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