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Around the Industry: Bridgestone and Pep Boys in Definitive Merger

2015-12-01 08:21:32| Auto Parts - Topix.net

Bridgestone Americas, Inc. and Pep Boys announced that Pep Boys and Bridgestone Retail Operations, LLC, a wholly owned subsidiary of Bridgestone, have entered into a definitive merger agreement under which BSRO will acquire Pep Boys in an all-cash transaction for $15.00 per share, or approximately $835 million in aggregate equity value. 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 price of $9.25 on May 19, 2015.

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