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Private equity firm The Gores Group may hit the brakes on its $15 a share buyout of Pep Boys, the nation's leading automotive aftermarket service and retail chain. In a regulatory filing released yesterday, Gores Group raised questions as to whether the "serious deterioration in Pep Boys business" since the company announced a late January buyout could precipitate a material adverse event, which would allow the buyer to cancel the deal. The notice sent Pep Boys’ shares sharply lower — down close to 25 percent — and at under $12, below the pre-buyout share price.
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