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Joe Marconi

Advance Auto Parts Selling to O'Reilly Auto Parts or Investment Firms?

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This is a shocker, but here's link to an article on a potential sale of Advance Auto Parts to O'Reillys Auto or to an investment firm.

 

According to a report in StreetInsider, auto parts retail giant Advance Auto Parts (NYSE: AAP) is exploring a potential sale of the company after being approached by an interested buyer.

 

StreetInsider, referencing a source "familiar with the matter," states that the potential offer could fetch up to $200 per share if a sale is successful. The company's stock as of Wednesday afternoon was trading at $161 per share, up 9 percent from Monday's close of $147.61 per share.

 

Negotiations, however, are said to be in the early stages and may not lead to a deal. Read more: http://www.bizjournals.com/triangle/blog/real-estate/2015/12/advance-auto-parts-shares-spike-on-reports-of.html?ana=yahoo

 

 

A must read!

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