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Market Chatter: Icahn Enterprises to Sell Pep Boys to Private Equity for $700 Million

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Icahn Enterprises (IEP) has struck a deal to sell auto-service chain Pep Boys to private-equity-owned Mavis Tire Express Services for about $700 million in cash, The Wall Street Journal reported Monday, citing unnamed people familiar with the matter.

The deal is expected to be unveiled Tuesday, the people told the WSJ.

Icahn Enterprises did not immediately respond to an out-of-office-hours request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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