LKQ Corporation (NASDAQ: LKQ) has announced that its board of directors has initiated a comprehensive review of strategic alternatives to enhance shareholder value. The company's strategic review includes evaluating potential sale options and maximizing shareholder returns.
As part of this announcement, the company has engaged BofA Securities as its financial advisor and Wachtell, Lipton, Rosen & Katz as its legal counsel.
Separately, the company is continuing with its previously announced process to explore the potential sale of its specialty segment.
There is no definitive timetable set for the completion of this strategic review, and the company has stated that there can be no assurance the review will result in any transaction or other strategic outcome.
LKQ Corporation is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles, with operations in North America, Europe, and Taiwan.
The company offers its customers a broad range of OEM recycled and aftermarket parts, replacement systems, components, equipment, and services to repair and accessorize automobiles, trucks, and recreational and performance vehicles. Today the company's shares have moved -1.24% to a price of $33.51. For more information, read the company's full 8-K submission here.
