Tuesday, January 31, 2012

Auto parts chain Pep Boys going private

By msnbc.com

Auto parts chain Pep Boys has agreed to be taken private by the investment firm The Gores Group.

With almost 53 million shares outstanding, the deal is worth about $791 million, according to The Associated Press. Total enterprise value of the transaction is approximately $1.0 billion, according to The Gores Group.

Pep Boys, which is based in Philadelphia, has more than 700 U.S. locations in 35 states and Puerto Rico. The company was established in 1921.

Source: http://bottomline.msnbc.msn.com/_news/2012/01/30/10270944-auto-parts-chain-pep-boys-going-private

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