{"id":29255,"date":"2012-05-31T19:52:54","date_gmt":"2012-05-31T23:52:54","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=29255"},"modified":"2012-05-31T19:52:54","modified_gmt":"2012-05-31T23:52:54","slug":"pep-boys-plummets-22-as-gores-group-pulls-bid-stifel-issues-negative-comments","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/05\/31\/pep-boys-plummets-22-as-gores-group-pulls-bid-stifel-issues-negative-comments\/","title":{"rendered":"Pep Boys Plummets 22% As Gores Group Pulls Bid, Stifel Issues Negative Comments"},"content":{"rendered":"<p><div id=\"grabDiv1767162\"><object id=\"GrabPlayer1767162\" width=\"542\" height=\"304\" type=\"application\/x-shockwave-flash\" align=\"middle\" data=\"http:\/\/player.grabnetworks.com\/swf\/GrabOSMFPlayer.swf?id=1767162&#038;content=vb86c37d402e82aaff7598e380ed989c2ee5132ca&#038;tgt=grabnetworks\"><param name=\"quality\" value=\"high\"\/><param name=\"allowScriptAccess\" value=\"always\"\/><param name=\"allowFullScreen\" value=\"true\"\/><param name=\"menu\" value=\"false\"\/><param name=\"wmode\" value=\"transparent\"\/><param name=\"movie\" value=\"http:\/\/player.grabnetworks.com\/swf\/GrabOSMFPlayer.swf?id=1767162&#038;content=vb86c37d402e82aaff7598e380ed989c2ee5132ca&#038;tgt=grabnetworks\"\/><\/object><\/p>\n<div id=\"overlay-adzone\" style=\"overflow:hidden; position:relative\"><\/div>\n<\/div>\n<p>Pep Boys&#8217; stock plummeted 22% after the decrease of a buyout deal with a Los Angeles-based private equity company.Pep Boys, which is based in Philadelphia and has 130 shops in California, announced on Tuesday that it plans to terminate its $1.1-billion buyout by The Gores Group.The automotive retail and repair chain said Gores would pay Pep Boys a $50-million termination fee. Pep Boys will also get reimbursed for certain merger expenses, according to a filing with the U.S. Securities and Exchange Commission.Gores agreed to buy Pep Boys and the $15 per share deal was announced January 30th. The private-equity firm seemed to be backing out earlier this month after Pep Boys announced disappointing earnings in the first-quarter.Pep Boys&#8217; stock fell $2.41 a share, or 22%, to $8.68 in early trading on Wall Street.<\/p>\n<p><img src='http:\/\/cache.thenewsroom.com\/financial_news_network\/2012\/05\/31\/1_pyuwv23h_thumb.jpg' \/><\/p>\n<p><!--post_img[http:\/\/cache.thenewsroom.com\/financial_news_network\/2012\/05\/31\/1_pyuwv23h_preview.jpg]--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pep Boys&#8217; stock plummeted 22% after the decrease of a buyout deal with a Los Angeles-based private equity company.Pep Boys, which is based in Philadelphia and has 130 shops in California, announced on Tuesday that it plans to terminate its $1.1-billion buyout by The Gores Group.The automotive retail and repair chain said Gores would pay &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/05\/31\/pep-boys-plummets-22-as-gores-group-pulls-bid-stifel-issues-negative-comments\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Pep Boys Plummets 22% As Gores Group Pulls Bid, Stifel Issues Negative Comments&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-29255","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/29255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=29255"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/29255\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=29255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=29255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=29255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}