Billionaire investor Carl Icahn offered to buy Pep Boys - Manny Moe & Jack for about $863 million, topping a proposal from a unit of Bridgestone Corp.

The $15.50-a-share offer isn’t subject to due diligence, financing or antitrust conditions, according to a letter from Icahn Enterprises included in a filing on Monday. The firm offered to enter immediately into the exact merger agreement that Pep Boys executed with Bridgestone, which proposed a deal at $15 a share, or roughly $835 million.

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