Genuine Parts weighs separation of auto parts business, Bloomberg reports

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.