Tire and auto service company Bridgestone Corp. is buying auto parts and repair company Pep Boys for $835 million in a deal that will help Bridgestone gain a more dominant position in auto services business.<br />The offer involves $15 per share in cash and marks a premium of almost 23.5 percent over Pep Boys' closing price on Friday.<br />The deal is expected to close in the beginning of 2016 and will add 800 locations to Bridgestone's nationwide network of 2,200 tire and automotive service centers.<br />The deal comes months after Pep Boys-Manny, Moe & Jack's president and CEO resigned as the speculation built over whether the company was considering a sale.
