The deal is the latest shakeup in the auto parts business, with Tenneco planning to split into two companies after it is completed.
Bridgestone still has until Friday to make a counter-proposal that would top Icahn's $837 million bid for the auto parts retailer.
The $15-a-share deal expands Tokyo-based Bridgestone's network of U.S. tire and auto service centers by more than a third.
