Manny, Moe & Jack Begins Strategic Options Review To Enhance Shareholder Value

(RTTNews) - Manny, Moe & Jack (PBY), an automotive aftermarket service and retail chain, today announced that its Board of Directors has commenced a review of strategic alternatives to enhance shareholder value, including a possible sale, merger or other form of business combination or strategic transaction.

The Board will be assisted in its review by Rothschild Inc. as its financial advisor and Morgan, Lewis & Bockius LLP as its legal advisor.

The Board has determined that, in light of these inquiries, it is appropriate to conduct a strategic review that evaluates Pep Boys' current long-term business plan against a broad range of alternatives that have the potential to enhance shareholder value.

There is no set timetable for the strategic review process. Further, Pep Boys has not made a decision to pursue a transaction, the company added.