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Icahn Takes 12% Stake in Pep Boys, Sees Fit for Rival
2015-12-05 01:39:47| Auto Parts - Topix.net
Billionaire investor Carl Icahn reported on Friday that he now owns 12.12% of auto parts company Pep Boys-Manny, Moe & Jack, which agreed to sell itself to Bridgestone in October, and said its retail automotive parts segment would be a perfect fit for rival Auto Plus. Icahn began buying the shares in late November and now owns 6.55 million shares, making him the second largest owner after Mario Gabelli's Gabelli Funds, a regulatory filing shows.
Pep Boys: Unwilling helpers in '85 strike
2015-11-15 15:02:39| Auto Parts - Topix.net
Since Philadelphia's World Heritage City designation was announced within days of the news that the Pep Boys automotive-store empire had been sold to a Japanese conglomerate for $835 million, I wonder if that means Manny, Moe, and Jack are now icons subject to historic preservation? What Philadelphia business symbol is more recognized than the comforting - some might say disturbing - images of Manny, Moe, and Jack posed heroically atop an automotive store? The Pep Boys - caricatures of three of the company's four founders, Manny Rosenfeld, Moe Strauss, and Graham "Jack" Jackson - have been the advertising face of the business since the first store opened in West Philadelphia.
Pep Boys win and Arbs lose again
2015-10-28 12:54:47| Auto Parts - Topix.net
The Pep Boys car-maintenance chain said Monday morning that it's being sold to a unit of Bridgestone for about $835 million. That's a 23 percent premium to its value last week and sounds like a decent offer -- but for arbitrageurs, any chance to make a good chunk of change evaporated within a minute of the press release, which hit at 8:30 a.m. New York time.
Phila. icon Pep Boys being sold to Bridgestone
2015-10-27 09:20:52| Industrial Machines - Topix.net
Manny Moe & Jack, the iconic Philadelphia-based auto-parts and service store chain, has agreed to be sold to Bridgestone Corp., the Japan-based tire maker that owns Firestone stores. Bridgestone will pay $15 a share, or $835 million, for the 800-store, barely profitable company, which has 14,000 employees in 35 states and yearly sales of $2 billion.
Bridgestone Buying Pep Boys For About $835 Million
2015-10-26 16:26:04| Auto Parts - Topix.net
CBS 3 CBS 3 joined forces with the most trusted local CBS RADIO stations in Philadelphia to give you the best Philly has to offer. CBS 3 is part of CBS Television Stations, a division of CBS [...] KYW Newsradio 1060 Welcome to KYW Newsradio 1060 on CBSPhilly.com.
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