PHILADELPHIA – Pep Boys has announced the expiration of the “go-shop” period set forth in the previously announced merger agreement entered into on Jan. 29, between Pep Boys, Auto Acquisition Company LLC and Auto Mergersub Inc., a wholly owned subsidiary of Parent.
 
Auto Acquisition Company LLC and Auto Mergersub Inc. were formed by affiliates of The Gores Group, LLC, the Los Angeles based private equity firm that plans to acquire Pep Boys for approximately $1 billion.
 
Under the merger agreement, Pep Boys and its representatives had the right to solicit alternative acquisition proposals from third parties during a “go-shop” period that expired at 11:59 p.m. (EDT) on March 14, 2012. During the “go-shop” period, BofA Merrill Lynch, Pep Boys’ financial adviser, contacted potential acquirers that Pep Boys and BofA Merrill Lynch believed might have been interested in an alternative to the transaction proposed by The Gores Group.
 
Pep Boys did not receive any alternative acquisition proposals from third parties during the “go-shop” period. As a result, the proposed merger is expected to be complete during the second fiscal quarter of 2012
 
Following completion of the transaction, Pep Boys will become a privately held company and its stock will no longer trade on the New York Stock Exchange.