Bridgestone, the world's largest tire manufacturer, has purchased auto parts retailer Pep Boys for $835m to help expand its US retail presence.
The Japanese-owned tire and automotive parts has announced that its US subsidiary Bridgestone Americas and its Bridgestone Retail Operations (BSRO) entered into a definitive merger agreement, under which BSRO will acquire Pep Boys in an all-cash transaction for $15 per share – an equity value of $835m. The $15 price per share offer of the acquisition…
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