Pep Boys (PBY) is trending as the auto shop chain has terminated its proposed merger with Gores Group. Gores Group, a California private-equity firm, was set to buy Pep Boys for $15 a share in a deal announced on Jan. 30. Gores Group will pay Pep Boys a settlement fee of $50 million and reimburse the company for merger-related expenses.
Fiat Industrial is another popular search. The auto manufacturer is planning to merge with CNH Global NV (CNH), Fiat's farm and construction business. Fiat Chairman Sergio Marchionne said the deal would simplify Fiat's structure, and thereby lure in international investors, drive growth and perhaps boost its credit rating. In Fiat's proposal for the merger, the combined company's shares would trade on the New York Stock Exchange, with a secondary listing in Europe. Fiat hopes the transaction will be completed by the end of the year, though it is subject to shareholder approval. In a statement, CNH took no immediate position on the proposal. Fiat currently owns 88% of CNH.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.