UPDATE 1-Pep Boys to be taken private for $791 mln

Newswire

Jan 30 (Reuters) - Pep Boys - Manny, Moe & Jack , an automotive aftermarket service and retail chain, said it has agreed to be bought by private equity firm Gores Group for about $791 million. Gores Group will acquire Pep Boys for $15 a share in cash -- a 24 percent premium to the company's Friday closing price. Pep Boys, which also suspended its quarterly dividend, said its senior management will continue in their roles with the company after completion of the deal. (Reporting by A. ...

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