Goodby Manny, Moe and Jack.
Long-time Philadelphia institution Pep Boys has been sold to Gores Group, a private equity firm, it was announced today, Jan. 30.
The price for the auto parts giant was $15 per share, a 24 percent premium over Friday’s closing price. The enterprise value of the transaction is $1 billion.
Hat tip, Tom C.
Goodby Manny, Moe and Jack