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Advance Auto Parts reaches deal with Dan Loeb's Third Point, Saddle Point for three board seats - TL;DR CNBC

Advance Auto Parts reaches deal with Dan Loeb's Third Point, Saddle Point for three board seats

Publishing timestamp: 2024-03-11 17:18:46


Summary

Dan Loeb's Third Point and activist Saddle Point have reached a settlement with Advance Auto Parts, giving them three board seats. The company's stock has been sliding since 2022 due to various costs, but the addition of new directors is expected to create value for shareholders.


Sentiment: POSITIVE

Tickers: AAP

Keywords: businessbreaking news: businessbusiness newsmergers and acquisitionsbreaking newsadvance auto parts inc

Source: https://www.cnbc.com/2024/03/11/activist-third-point-nears-deal-with-advance-auto-parts-for-three-board-seats.html


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