Advance Auto Parts, identified by its stock symbol $AAP, is reportedly close to reaching a settlement with activist hedge fund Third Point, led by Dan Loeb, and Saddle Point. The settlement is expected to result in the auto parts retailer appointing three new members to its board of directors. This development comes as part of Third Point's investment strategy in the company, indicating an active engagement in its governance. The news has been reported by various sources, including The Wall Street Journal and Reuters, highlighting the significant interest in the matter within the financial community.
Advance Auto Parts to add three board members as activist investors take stake https://t.co/jnbFdUXx9s https://t.co/o21fidLIcI
Advance Auto Parts to add 3 new directors after Dan Loeb’s firm takes stake https://t.co/KE1rMpnORo https://t.co/8L2RyqR1F8
ADVANCE AUTO PARTS CLOSE TO REACHING A SETTLEMENT WITH THIRD POINT AND SADDLE POINT, COMPANY TO APPOINT THREE NEW BOARD MEMBERS - SOURCES
ADVANCE AUTO PARTS NEARS SETTLEMENT WITH ACTIVIST THIRD POINT - WSJ ADVANCE AUTO TO ADD THREE NEW DIRECTORS TO ITS BOARD - WSJ
WSJ: Activist hedge fund Third Point has a stake in Advance Auto Parts and is close to a settlement with the company that will add three new directors to its board, according to people familiar with the matter.
Scoop: Third Point has a stake in Advance Auto Parts and is close to a settlement with the company that will add three new directors to its board. $AAP https://t.co/Y2Le6zjNoc via @WSJ
$AAP | Advance Auto Parts Nears Settlement With Activist Third Point - @WSJ https://t.co/z0dawBeEoU
Former ValueAct partner Haggart to launch activist firm, sources say via @sveaherbst @Reuters #HedgeFunds #ActivistInvestor https://t.co/1F3keCTgVl