The $700M cash sale provides a material liquidity boost to IEP, which can be used for debt reduction, buybacks, or new investments. Monitor the closing timeline and any regulatory hurdles; the retained real estate and AAMCO/Precision Tune businesses mean IEP retains meaningful automotive sector exposure.
Price Chart
Executive Summary
Icahn Enterprises (IEP) has entered into a definitive agreement to sell its Pep Boys automotive services subsidiary to Mavis Tire Supply for $700 million in cash. IEP will retain the owned real estate previously transferred from Pep Boys, as well as its AAMCO Transmissions and Precision Tune Auto Care businesses. The transaction provides a significant cash infusion to IEP while allowing it to maintain exposure to the automotive aftermarket through retained assets, and is expected to close in the coming months.
Key Financial Metrics
Key Facts
- IEP agreed to sell Pep Boys to Mavis for $700 million in cash.
- IEP retains the owned real estate previously transferred from Pep Boys, plus AAMCO and Precision Tune businesses.
- The reverse termination fee payable by Buyer to Seller is $21.0 million.
- Transaction expected to close in the coming months, subject to customary closing conditions.
- Pep Boys operates nearly 800 locations nationwide.
Financial Impact
$700 million cash sale of Pep Boys, with IEP retaining owned real estate and other auto service businesses
Risk Factors
- Transaction may fail to close if regulatory approvals are not obtained or conditions are not satisfied.
- Purchase price is subject to customary adjustments for cash, debt, and working capital, which could reduce net proceeds.
- Retained real estate and auto service businesses may underperform expectations.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-085237 |
| Document: tm2620847d1_ex99-1.htm | 0001104659-26-085237 |
| Document: 0001104659-26-085237-index-headers.html | 0001104659-26-085237 |
| Document: 0001104659-26-085237-index.html | 0001104659-26-085237 |
| Document: 0001104659-26-085237.txt | 0001104659-26-085237 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 20, 2026 6w ago | 8-K | $6.79 $6.78 | ▼ −0.15% | ▼ −0.62% | $6.67 (−1.77%) |
Aug 7, 2026 8w ago | 8-K | $7.43 $7.11 | ▼ −4.31% | ▼ −4.26% | $6.67 (−10.23%) |
Aug 5, 2026 8w ago | 8-K | $7.46 $7.50 | ▼ −0.54% | ▼ −0.19% | $6.67 (+10.59%) |
Aug 5, 2026 8w ago | Press Release | $7.46 $7.50 | ▼ −0.54% | ▼ −0.19% | $6.67 (+10.59%) |
Jul 23, 2026 10w ago | Press Release | $7.69 $7.71 | ▼ −0.26% | ▲ +0.11% | $6.67 (+13.26%) |
Jul 21, 2026 10w ago | 8-K | $7.69 $7.73 | ▲ +0.52% | ▲ +1.75% | $6.67 (−13.26%) |
May 6, 2026 21w ago | 8-K | $7.46 $7.52 | ▼ −0.88% | ▲ +0.29% | $6.67 (+10.53%) |
Mar 5, 2026 30w ago | 8-K | $7.24 $7.13 | ▲ +1.60% | ▼ −0.64% | $6.67 (+7.90%) |
Feb 25, 2026 31w ago | 8-K | $7.02 $7.22 | ▲ +2.76% | ▲ +3.86% | $6.67 (−5.01%) |
US Market Status
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