Deals
Pep Boys Seen Gaining 27% as Cheapest Value Lures Bids: Real M&A
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A buyout of Pep Boys at the lowest auto-parts valuation in a decade is leaving the door open for a bidding contest that may cost the winner 27 percent more.
Pep Boys - Manny, Moe & Jack agreed to sell itself to private-equity firm Gores Group LLC for $15 a share yesterday. Including net debt, the $1 billion takeover values Pep Boys at