O’Reilly Automotive Inc has placed a $10 billion bid to acquire Genuine Parts Company.
Genuine Parts Company owns Napa Auto Parts.
Genuine Parts Company wants to separate its auto parts unit and industrial operations by early next year.
If you have ever worked on your car, you likely have stepped inside an auto parts store. But the landscape of offerings could soon change drastically if the company that owns O'Reilly’s Auto Parts gets its way.
According to a new Bloomberg report, citing "people familiar with the matter," O’Reilly Automotive Inc has placed a $10 billion bid to acquire Genuine Parts Company’s aftermarket auto parts unit, which includes Napa Auto Parts. It’s unclear whether Genuine Parts will accept the bid, keep the unit, or sell it to another bidder.
