Pep Boys (PBY) announced Monday morning that it has agreed to be acquired by Bridgestone Retail Operations, a subsidiary of Bridgestone Americas Inc., for $15.00 per share in cash, or approximately $835 million.
Pep Boys gapped up sharply Monday, but moved in a narrow range throughout the session. The stock finished higher by 2.84 at $14.99 on the highest volume of the year. Pep Boys leaped to a new high for the year.
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