Bridgestone Corp. has until Friday to beat Carl Icahn's offer of $15.50 a share for Philadelphia-based auto parts and repair chain Pep Boys -- Manny Moe & Jack -- or Pep Boys will sell to Icahn and not Bridgestone, according to this note filed with the SEC by Icahn's group. Icahn wants to merge 800-store Pep Boys into his smaller Auto Plus (formerly Uni-Select) store and service chain; Bridgestone wants to merge Pep Boys garages, tires, fleet service into its 2,200 Firestone stores. Will they end up splitting the company? 

Says Icahn: "On December 8, 2015, Icahn Enterprises:
"(i) Entered into a confidentiality agreement with (Pep Boys)...  
"(ii) Delivered to the Issuer a merger agreement executed by Icahn...  for $15.50 per share...
"(iii) Was informed by (Pep Boys) that, in accordance with Section 8.3 of the Bridgestone Agreement (a rival $15 offer), (Pep Boys') board of directors had determined that the Icahn Proposal constitutes a Superior Proposal... (Pep Boys has told) Bridgestone of (Pep Boys') intention to...terminate the Bridgestone Agreement to enter into the Icahn Agreement...

"Unless Bridgestone agrees to a transaction prior to 5:00 p.m., New York City time, on December 11, 2015 that is superior to the transaction contemplated by the Icahn Agreement, the Issuer will terminate the Bridgestone Agreement and execute the Icahn Agreement."