Law360, New York (January 30, 2012, 1:48 PM ET) -- The Gores Group LLC will buy Philadelphia-based automotive parts retailer The Pep Boys — Manny, Moe & Jack in a $1 billion transaction to take the company private, the Los Angeles-based private equity firm said Monday.
Gores will pay $15 per share — 24 percent higher than the chain's Friday closing price of $12.08 per share — in cash for all outstanding common stock. Pep Boys' board of directors unanimously approved the merger Jan. 29 and recommended that shareholders give the agreement the green light, the...
Skadden Helps Gores Group In $1B Pep Boys Buy
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