Genuine Parts (GPC), which recently settled with activist investor Elliott Investment Management, is weighing a breakup, Bloomberg’s David Carnevali reports, citing people familiar with the matter. The company is considering separating its industrial parts business from its auto parts unit, according to the people. It is evaluating a range of options for the auto parts business, including a spinoff, they said. Deliberations are at an early stage and Genuine Parts may decide to keep its current structure, the people said, asking not to be identified discussing confidential information.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GPC:
- Genuine Parts weighs separation of auto parts business, Bloomberg reports
- Genuine Parts Company Announces Cooperation Agreement with Elliott
- Genuine Parts Declares Quarterly Cash Dividend
- Genuine Parts price target raised to $160 from $155 at Loop Capital
- Genuine Parts price target raised to $145 from $135 at Evercore ISI