Reuters – Bids for Advance Auto Parts Fall Short

An auction of Advance Auto Parts Inc. failed to attract bids that met its price expectations, making it unlikely the auto parts retailer would proceed with plans to sell itself, Reuters reported Thursday. The company ran a limited auction process that attracted interest from buyout firms including Carlyle Group LP, Leonard Green & Partners LP, KKR & Co LP and Clayton Dubilier & Rice LLC, sources told Reuters.

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