Gores Group Wavers On $1B Pep Boys Buyout After Slump

Law360, New York (May 1, 2012, 6:32 PM EDT) -- The private equity firm in line to pay $1 billion for auto parts retailer The Pep Boys – Manny, Moe & Jack is waffling after the company's first-quarter slowdown, according to a proxy statement filed Tuesday with the U.S. Securities and Exchange Commission.

The Gores Group LLC asked Philadelphia-based Pep Boys to wait an extra 30 days to send materials to investors in a bid to hold off their scheduled May 30 vote on the proposed buyout, according to correspondence between the two excerpted in the...
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