Pep Boys shares jump 20% on takeover talk

A Pep Boys in Hollywood, Calif.
Albert L. Ortega | Getty Images
A Pep Boys in Hollywood, Calif.

Philadelphia-based Pep Boys: Manny, Moe & Jack has been approached about a takeover, according to sources cited by Dow Jones. The auto-parts retail chain has a market cap of less than $500 million.

Golden Gate Capital and others have reportedly broached the topic of purchasing Pep Boys, the Wall Street Journal reported Tuesday evening.

The retailer's shares jumped 20 percent, to $11.10 each, in extended trade.

Pep Boys reported a loss of $27.3 million for the most recent fiscal year. It operated 806 stores as of Jan. 31. The chain directly competes with Auto Zone.

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