Icahn’s latest bid of $18.50 per share on Monday values Pep Boys at about $1 billion, while Bridgestone’s previous offer of $17 per share valued the company at about $947 million. Pep Boys said that its board has delivered a notice to Bridgestone to terminate their previous agreement. Icahn Enterprises said it would be willing to bid in excess of $18.50 per share for Pep Boys unless Pep Boys increases Bridgestone’s termination fee of $39.5 million.