Bridgetone buys out the competition... Pep Boys sells for 835 million, cash, if the majority of its shareholders will cash in

#hashtags: #Pep Boys #Bridgestone

The shareholder with 12% of the Pep Boys stock got pushy, the CEO was recently replaced for a more profit thinking one, and voila.The all-cash deal, which represents a premium of 23% over the stock's closing price Friday, will be structured as a tender offer to close as soon as next year. At least a majority of shareholders need to agree to tender their shares at the price offered to complete the transaction. Bridgestone's 2,200 tire and automotive service centers, will grow by about 25% with the addition of the 800 Pep Boys locations,  joining the Bridgestone companies Firestone Complete Auto Care, Tires Plus, Hibdon Tires Plus and Wheel WorksBridgestone is the world’s largest company-owned tire and automotive service retail network