Bridgestone Unit To Acquire Pep Boys For $15.00/share - Quick Facts

(RTTNews) - Bridgestone Americas, Inc. and The Pep Boys - Manny, Moe & Jack (PBY) announced that Pep Boys and Bridgestone Retail Operations, LLC (BSRO), 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.

Pep Boys, headquartered in Philadelphia, has been one of the nation's leading automotive aftermarket chains since 1921. The transaction is structured as a tender offer. The acquisition represents an immediate nationwide expansion of more than 35 percent for BSRO.

Following completion of the transaction, Pep Boys will be wholly owned by and operate under BSRO. Pep Boys' stock will no longer trade on the NYSE.