Bridgestone Corporation Acquires Pep Boys

PHILADELPHIA (CBS) — Bridgestone Corporation announced earlier today that is has acquired Pep Boys, which is headquartered in Philadelphia.

Doctor Bruce Rader is an associate professor of Finance at the Fox School of Business at Temple University. He says this is a good deal for Pep Boys shareholders.

"If you look at right now, it's up about $2.83 on the day. And probably with some other information, so it's up about 23-percent, so the value of their assets has gone up substantially."

As for Pep Boys retail shops, Rader believes there will be little change there.

"More than likely, they'll keep them probably in the same realm, and have the same management and stuff like that. So I don't think they'll be any change to any of the consumers. I know Pep Boys sells Bridgestone and other already so it shouldn't be a problem."