Auto parts firm LKQ up after plans to acquire Canada's Uni-Select

Uni-Select

27/02/2023 16:38

** Shares of auto parts company LKQ Corp  LKQ.O  up ~1% at
$57.89 in morning trade  
    ** LKQ Corp says it would buy Canada's Uni-Select Inc in an
all-cash deal valued at about C$2.8 billion  ($2.06 billion)
    ** LKQ looks to tap into Uni-Select's strong presence in the
aftermarket auto parts business
    ** Uni-Select's shareholders will receive C$48 per share, a
premium of 19.2% to the stock's close on Friday
    ** The equity value of the transaction is C$2.11 billion,
based on calculations by Reuters  
    ** LKQ intends to fund the transaction through a combination
of cash on hand and new debt and has secured bridge financing
commitments from Bank of America and Wells Fargo
    ** LKQ stock lost nearly 9% in 2022 


($1 = 1.3569 Canadian dollars)

 (Reporting by Pratyush Thakur in Bengaluru)
 ((Pratyush.Thakur@thomsonreuters.com))