LKQ begins strategic review including potential company sale

LKQ Corporation (NASDAQ: LKQ) announced its board of directors has initiated a comprehensive review of strategic alternatives to enhance shareholder value. The automotive parts company said the review includes evaluating a potential sale of the entire 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."

The company stated there is no deadline or definitive timetable for completion of the strategic review. LKQ emphasized there can be no assurance the review will result in any transaction or other strategic outcome.

Separately, LKQ continues its previously announced process to explore the potential sale of its Specialty segment.

LKQ has engaged BofA Securities as its financial advisor and Wachtell, Lipton, Rosen & Katz as its legal counsel for the review process.

The company does not intend to disclose or comment on developments related to the review unless further disclosure is appropriate or required by law.

LKQ operates as a provider of alternative and specialty parts for automobile repair and accessories. The company has operations in North America, Europe and Taiwan, offering customers OEM recycled and aftermarket parts, replacement systems, components, equipment, and services for automobiles, trucks, and recreational and performance vehicles.

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