- Auto parts stocks (AZO, AAP, ORLY, PRTS, GPC) are on watch after Bridgestone (OTCPK:BRDCY) acquires Pep Boys (NYSE:PBY-OLD) for a healthy premium.
- Analysts have already been pushing the consolidation benefits of retail chains within the sector. The M&A move by Bridgestone will also be of interest to tire giants Cooper Tire & Rubber (NYSE:CTB) and Goodyear Tire & Rubber (NYSE:GT).
- Pep-Boys trades just short of the takeout price of $15, up 22.82% to $14.91.
- Previously: Bridgestone buying Pep Boys for $835M (Oct. 26 2015)