Carl Icahn Tweets: Pep Boys To Terminate Bridgestone Deal As His Deal Is 'Superior'

's Carl Icahn said on Wednesday it is committed to paying around $1 billion to acquire

and will beat any new offer Bridgestone makes by $0.10 a share. Pep Boys initially agreed to be acquired by Bridgestone, the Japanese tire company, for $15 a share in October. However, Icahn unexpectedly offered $15.50 per share in December before a bidding war began. Icahn's most recent offer was to acquire Pep Boys for $16.50 per share while Bridgestone's offer of $15.50 falls short. Nevertheless, Bridgestone has until 5 p.m. ET Thursday to make a new offer. Icahn took to Twitter and said that Pep Boys' management told him that his bid remains "superior" and the company may terminate its prior deal with Bridgestone.

Pep Boys shares traded recently at $17.19, up 1.7 percent. In a

, Icahn wrote: "Unless Bridgestone agrees to a transaction prior to 8:00 p.m., New York City time, on December 24, 2015 that is superior to the transaction contemplated by the Icahn Agreement, the Issuer [Pep Boys] will terminate the Bridgestone Agreement and execute the Icahn Agreement."