More News:

July 02, 2015

Campbell's, Pep Boys stock prices soar after M&A activity

Local companies see stock prices hit 52-week highs

Stocks Mergers
Campbell's James H. Collins/AP

This Aug. 31, 2011 photo shows two cans of Campbell's soup in New York.

Two local companies saw their stock prices reach 52-week highs after mergers and acquisitions activities signaled approaching changes.

Camden's Campbell's Soup Co. completed its $231 million acquisition of Michigan-based Garden Fresh Gourmet, announced in June, which sent its stock price (NYSE: CPB) soaring to $49.16 on Tuesday. 

The move appears to represent another step in the company's shift toward health and wellness after acquiring Bolthouse Farms in 2012, the Philadelphia Business Journal reports.

Meanwhile, Pep Boys - Manny, Moe and Jack announced this week that it is open to the possibility of a sale or merger to increase shareholder value. Though the Philadelphia company did not give a timeframe for a decision, the announcement sent its stock (NYSE: PBY) up to $12.62 on Tuesday.

Pep Boys' stock price has been climbing up from $8.91 since April 14. The automotive service and retail chain recently announced that Scott P. Sider would serve as its new CEO after Michael Odell stepped down last September.