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Genuine Parts Co (GPC.N)

GPC.N on New York Stock Exchange

94.18USD
17 Jul 2018
Change (% chg)

$0.94 (+1.01%)
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Latest Key Developments (Source: Significant Developments)

Genuine Parts Comments On Merger Agreement With Essendant Following Staples' Proposal
Thursday, 17 May 2018 

May 16 (Reuters) - Genuine Parts Co ::GENUINE PARTS COMPANY COMMENTS ON DEFINITIVE MERGER AGREEMENT WITH ESSENDANT FOLLOWING STAPLES' CONDITIONAL, NON-BINDING PROPOSAL TO ACQUIRE ESSENDANT.GENUINE PARTS - "DO NOT BELIEVE STAPLES' CONDITIONAL, NON-BINDING PROPOSAL TO ACQUIRE ESSENDANT FOR $11.50 PER SHARE IN CASH TO BE A SUPERIOR PROPOSAL".  Full Article

Staples Says Proposed To Buy Essendant For $11.50/Share In Cash
Thursday, 17 May 2018 

May 16 (Reuters) - Staples Inc::STAPLES SAYS ON APRIL 17, SENT LETTER TO ESSENDANT EXPRESSING INTEREST IN DISCUSSIONS REGARDING PROPOSAL TO ACQUIRE ALL REMAINING STOCK OF CO NOT OWNED BY STAPLES.STAPLES - ON APRIL 27, ESSENDANT INFORMED IT WAS NOT ABLE TO ENTER DISCUSSIONS WITH STAPLES UNDER TERMS OF AGREEMENT BETWEEN ESSENDANT, GENUINE PARTS.STAPLES SAYS ON APRIL 29, SENT LETTER TO ESSENDANT WHICH REITERATED TERMS OF APRIL 17 LETTER & ENCOURAGED ESSENDANT TO ENGAGE IN DISCUSSIONS WITH STAPLES.STAPLES - ON MAY 10, ESSENDANT SENT DRAFT OF “ACCEPTABLE CONFIDENTIALITY AGREEMENT” TO STAPLES, TERMS OF WHICH ARE CURRENTLY BEING REVIEWED BY CO.STAPLES INC REPORTS A 9.9 PCT STAKE IN ESSENDANT INC <<>> AS OF MAY 7 - SEC FILING.STAPLES SAYS IN APRIL 17 LETTER TO ESSENDANT, STAPLES MADE PROPOSAL TO ACQUIRE ALL OF OUTSTANDING SHARES OF ESSENDANT STOCK FOR $11.50/SHARE IN CASH.STAPLES - IN APRIL 17 LETTER TO ESSENDANT, CO SAYS IT DOES NOT REQUIRE ANY THIRD PARTY FINANCING OR FINANCING APPROVALS TO CONSUMMATE PROPOSED DEAL.STAPLES - IN APRIL 17 LETTER TO ESSENDANT, CO SAYS IT INTENDS TO FUND THE PROPOSED TRANSACTION WITH AVAILABLE FUNDS.STAPLES - ON APRIL 27, GOT LETTER FROM ESSENDANT INDICATING ESSENDANT’S BOARD DETERMINED STAPLES' $11.50/SHARE IN CASH PROPOSAL WAS NOT A “SUPERIOR PROPOSAL”.  Full Article

Genuine Parts Says Essendant Must Pay Termination Fee Of $12 Mln Under Certain Circumstances
Thursday, 12 Apr 2018 

April 12 (Reuters) - Genuine Parts ::IF DEAL TERMINATED BECAUSE APPROVAL IS NOT OBTAINED AT ESSENDANT STOCKHOLDER MEETING, ESSENDANT TO REIMBURSE CO FOR EXPENSES UP TO $3 MILLION.DEAL WITH ESSENDANT PROVIDES ESSENDANT MUST PAY CO TERMINATION FEE OF $12 MILLION ON TERMINATION OF AGREEMENT UNDER CERTAIN CIRCUMSTANCES.  Full Article

Genuine Parts announces industrial and automotive acquisitions
Thursday, 19 Oct 2017 

Oct 19 (Reuters) - Genuine Parts Co :Genuine Parts Company announces industrial and automotive acquisitions.Genuine Parts Co - ‍Deal adds approximately $125 million in annual revenue​.Genuine Parts Co - ‍Company expects Apache to generate estimated annual revenues of $100 million​.Genuine Parts Co - ‍Addition of Monroe will consolidate into U.S. Automotive operations, expected to generate approximate annual revenues of $25 million​.Genuine Parts Co - ‍In addition, co entered definitive agreement to acquire Monroe Motor products, with an effective close date of November 1, 2017​.  Full Article

Genuine Parts Company Q3 earnings per share $1.08
Thursday, 19 Oct 2017 

Oct 19 (Reuters) - Genuine Parts Co :Genuine Parts Company reports sales and earnings for the third quarter ended September 30, 2017.Q3 earnings per share $1.08.Q3 sales $4.1 billion versus I/B/E/S view $4.1 billion.Q3 earnings per share view $1.28 -- Thomson Reuters I/B/E/S.Sees FY 2017 adjusted earnings per share $4.55 to $4.60.Sees FY 2017 earnings per share $4.47 to $4.52.Q3 adjusted earnings per share $1.16 excluding items.Sees FY 2017 sales up 4 to 4.5 percent.FY2017 earnings per share view $4.73, revenue view $15.99 billion -- Thomson Reuters I/B/E/S.Updates 2017 outlook​.Q3 profitability impacted by lower gross margin, higher operating expenses, co's margin expansion initiatives did not meet expectations​.  Full Article

Genuine Parts Co announces additional 15 mln share repurchase program
Monday, 21 Aug 2017 

Aug 21 (Reuters) - Genuine Parts Co :Genuine parts company announces new board member, declares regular quarterly dividend and announces additional 15 million share repurchase program.Genuine parts co - ‍company has increased number of shares of its common stock authorized for repurchase by 15 million shares​.Genuine parts co says board of directors elected P. Russell Hardin as a new independent director of company.  Full Article

BRIEF-Genuine Parts Comments On Merger Agreement With Essendant Following Staples' Proposal

* GENUINE PARTS COMPANY COMMENTS ON DEFINITIVE MERGER AGREEMENT WITH ESSENDANT FOLLOWING STAPLES' CONDITIONAL, NON-BINDING PROPOSAL TO ACQUIRE ESSENDANT