LKQ says executing on 'range of initiatives' after ValueAct takes stake
LKQ Corporation issued a statement in response to ValueAct Capital's disclosed stake in the company. It reads, "LKQ welcomes investment in the Company, and regularly engages with stockholders to understand and assess their views and opinions. We appreciate constructive input and are focused on delivering enhanced value for all LKQ stockholders. We continue to execute on a range of initiatives to support our strategy and improve operational performance. Notably, LKQ's recent second quarter 2019 earnings results reflect the momentum in our business and strategy, as we generated the highest quarter of operating cash flow in Company history. Additionally, we recently announced our '1 LKQ Europe' project to fully integrate our European business, enhance efficiencies and drive profitable growth. We are confident in our ability to execute on our plan given the underlying strength of our Global business model and strategy, and the success we have achieved in our North American segment since the Company's founding in 1998." Shares of LKQ are up 8%, or $2.22, to $31.30 in morning trading.