Banking, finance, and taxes
Gores Group Acquires Pep Boys (PBY, AZO, AAP, ORLY)
Published:
Pep Boys has been the weakest performer in the auto parts retail business for the past year. It’s share price has fallen by more than -13% in the past 12 months, while competitors Autozone Inc. (NYSE: AZO), Advance Auto Parts Inc. (NYSE: AAP), and O’Reilly Automotive Inc. (NASDAQ: ORLY) have risen by 38%, 17%, and 46%, respectively.
Under terms of the agreement, Pep Boys has a 45-day period in which it is free to seek other offers. The deal is expected to close in the second quarter.
Pep Boys has suspended its quarterly dividend and will file a quarterly report with the SEC, but has cancelled its conference call.
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s made it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.