| 2019-09-12 09:16:46|
LKQ 09:16 09/12 09/12/19
LKQ Corp. jumps after ValueAct reports activist stake
Shares of LKQ Corp., which provides parts to repair and accessorize automobiles, are moving higher after Jeffrey Ubben's ValueAct Capital disclosed a new activist stake in the company. In a filing with the SEC this morning, ValueAct reported a 5.2% stake in LKQ, which represents over 16M shares. ValueAct said it had, and will continue to have, discussions with officers and directors of LKQ about management, board composition, capital allocation, and its mergers and acquisitions strategy, among other topics. Shares of LKQ Corp. are up 5%, or $1.42, to $30.50 in premarket trading.