ANTIOCH, Tenn. — LKQ Corporation (Nasdaq: LKQ), parent company of NTP-STAG, today (Jan. 26) announced that its Board of Directors has initiated a comprehensive review of strategic alternatives to enhance shareholder value. As part of the review, the board is working with its advisors to evaluate the company’s strategic alternatives, including a potential sale of the company.
“The Board and management continually evaluate the Company’s performance and strategic positioning as part of our responsibility to maximize shareholder returns,” said John Mendel, chairman of the board. “Consistent with this commitment, we have initiated a formal review of strategic alternatives to identify the best path forward to unlock value that is not reflected in our current valuation.”
Separately, the company is continuing with its previously announced process to explore the potential sale of its Specialty segment (See: “LKQ Initiates Sale Process for Specialty Segment, NTP-STAG” and “Capitol Talk: Bill Rogers on Expo, Potential Sale of NTP-STAG”).
There is no deadline or definitive timetable set for completion of this strategic review, and there can be no assurance the review will result in any transaction or other strategic outcome. LKQ does not intend to disclose or comment on developments related to this review unless further disclosure is appropriate or required by law.
LKQ has engaged BofA Securities as its financial advisor and Wachtell, Lipton, Rosen & Katz as its legal counsel.
About LKQ Corporation
LKQ Corporation (www.lkqcorp.com) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ 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.
