Pep Boys Shares Surge On Report Of Takeover Interest

(RTTNews) - Private-equity firm Golden Gate Capital and other suitors have recently expressed interest in buying Automotive retailer Pep Boys - Manny, Moe & Jack (PBY), the Wall Street Journal reported citing people familiar with the matter.

PBY closed Tuesday's regular trading at $9.25. However, in after-hours, the share gained $1.60 or 17.30%.

Pep Boys isn't working with an investment bank on a sale and isn't currently in negotiations with any of the parties, the report said quoting the people. It isn't clear whether the company wants to sell and a deal is far from certain.