CSK Auto Responds to O'Reilly Automotive Proposal
01 Fevereiro 2008 - 7:09PM
Business Wire
CSK Auto Corporation (NYSE:CAO) confirmed today that it has
received from O�Reilly Automotive, Inc. (Nasdaq:ORLY) an
unsolicited proposal to acquire all of the outstanding shares of
CSK Auto. CSK�s Board of Directors and management remain committed
to acting in the best interests of the Company�s stockholders.
Consistent with this focus, in December 2007, CSK retained JPMorgan
to assist its Board of Directors in developing and evaluating
alternatives to preserve and maximize stockholder value. As part of
this process, to date, more than 20 parties ďż˝ including both
strategic and non-strategic, and control and non-control seeking
parties ďż˝ have executed customary confidentiality and standstill
agreements, and have thus been granted access to non-public
information. O�Reilly has been, and continues to be, afforded the
opportunity to participate in this process, but has declined to do
so. �We are conducting a thoughtful and comprehensive process, and
we fully intend to complete the process as planned in order to
ensure a result that we believe will serve the best interests of
our stockholders,� said Larry Mondry, CSK Auto�s President and
Chief Executive Officer. About CSK Auto CSK Auto Corporation is the
parent company of CSK Auto, Inc., a specialty retailer in the
automotive aftermarket. As of January 6, 2008, the Company operated
1,349 stores in 22 states under the brand names Checker Auto Parts,
Schuck's Auto Supply, Kragen Auto Parts, and Murray's Discount Auto
Stores.
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