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Signage is displayed outside a Pep Boys/Manny Moe & Jack service center in Clarksville, Indiana, June 3, 2015. Luke Sharrett/Bloomberg via Getty Images

Japanese tire maker Bridgestone Corp. raised its offer for Pep Boys-Manny, Moe & Jack to about $947 million, trumping activist investor Carl Icahn's current $900 million bid.

The latest Bridgestone offer of $17 per share was $1.50 above of its earlier bid.

Icahn's latest offer for Pep Boys was $16.50 per share.

(Reporting by Yashaswini Swamynathan in Bengaluru)

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