RSS   Newsletter   Contact   Advertise with us

Bridgestone to acquire Pep Boys in $835 million deal

Staff writer ▼ | October 26, 2015
Bridgestone Retail Operations will acquire The Pep Boys – Manny, Moe & Jack in an all-cash transaction for $15 per share, or approximately $835 million in aggregate equity value.
Pep Boys
Acquisition   $15 per Pep Boys share
This represents a premium of 23 percent over Pep Boys' closing price of $12.15 on October 23, 2015 and a premium of 62 percent over Pep Boys' unaffected (prior to market speculation of a potential transaction) price of $9.25 on May 19, 2015. The transaction is structured as a tender offer.

Pep Boys, headquartered in Philadelphia, has been one of the nation's leading automotive aftermarket chains since 1921.

With more than 7,500 service bays in more than 800 locations in 35 states and Puerto Rico, Pep Boys offers tires, maintenance and repair and parts and accessories.