Auto Parts Retailer Love Triangle Reaches $1B With Icahn Once Again Topping Bridgestone In Bid For Pep Boys
Pep Boys Concedes That Icahn’s Offer May Be “Superior” To Bridgestone, Will Explore The Deal Further
When Dollar General entered an unsolicited billion dollar bid for Family Dollar last year, the smaller company said thanks but no thanks. The latest merger-love triangle appears to be taking a different path: auto parts retailer Pep Boys seems to be mulling the idea of ditching its already agreed upon deal with Bridgestone in favor of more money from Auto Plus owner Icahn Enterprises. [More]
Love triangles are generally a plot device used in movies and television shows to keep viewers’ eyes glued to the screen, screaming for their preferred suitor to win out. Recently, though, the messy affairs have infiltrated the mergers and acquisitions realm with the months-long dollar store war – Dollar General and Dollar Tree fighting over Family Dollar. Today, that trend continued with the company behind Auto Plus offering to buy the already betrothed Pep Boys retail operations out from under Bridgestone. [More]
Have we seen the last of Moe, Manny, and Jack – you know, the faces of the Pep Boys auto parts brand? It’s possible as the retail chain has agreed to be acquired by tire giant Bridgestone for $835 million. [More]
Troy is a rational person, which is why he took Pep Boys’ advertisement of a guaranteed 29-minute oil change literally. A sign at his local outlet claims that if your oil change takes more than 29 minutes, you’ll receive a $10 voucher for your next oil change. Except that’s not actually how the program works, and Troy found that there’s apparently always a way to weasel out of giving customers the $10.
Mike took his car to his local Pep Boys for some simple service. In the end, he might have been better off leaving the car in his driveway. He claims that the shop’s employees lost his only car key, then made excuses to leave his car without being repaired for days on end. He’s asking Consumerist for help.
Pep Boys loses a whole bunch of money, cuts 500 jobs and closes 31 stores. [BusinessWeek]
After sending a complaint via Executive Email Carpet Bomb, Arnie says the Pep Boys Vice President of Service called him and has apologized and refunded all his monies.
UPDATE: Pep Boys Apologizes