Wall Street news source, StreetInsider has reported that Advance Auto Parts Inc. (NASDAQ:AAP) is exploring a potential sale.
After the report was released, shares of the company climbed 5.8 percent, the biggest single-day spike in the past two months.
Analysist Ali Faghri says O’Reilly Automotive (NASDAQ:ORLY) makes the most sense as the buyer, citing its favorable geographic concentration, track record with large-scale integration, participation in the Pep Boys bidding, and under-levered balance sheet.
Icahn Enterprises (NASDAQ:IEP), owner of Uni-Select USA and Beck/Arnley Worldparts, is also believed to be a potential buyer.
Laurie Stacy, a spokeswoman for Advance Auto Parts Inc., declined to comment on the speculations.
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