CSK Auto Enters Into Standstill Agreement with O'Reilly Automotive.PHOENIX -- CSK Auto CSK Auto Inc. is the largest specialty retailer of automotive parts and accessories in the western United States and one of the largest retailers of such products in the entire country. Corporation (NYSE NYSE See: New York Stock Exchange :CAO) today announced that it has entered in a Standstill Agreement Standstill agreement Contract by which the bidding firm in a takeover attempt agrees to limit its holdings of another firm. standstill agreement with O'Reilly Automotive, Inc. (Nasdaq:ORLY Orly (ôrlē`), city (1990 pop. 21,824), Val-de-Marne dept., N central France, a suburb SE of Paris. It is the site of Orly airport, which with Charles de Gaulle is one of the two chief airports of Paris. ) to share non-public information relating to CSK CSK see chronic superficial keratitis. Auto's business as a part of the CSK Board of Directors' ongoing review of strategic alternatives. "Our Board is currently exploring alternatives for preserving and maximizing stockholder value and, in connection with this effort, more than 20 parties have been granted access to non-public information related to CSK's business," said Larry Mondry, CSK Auto's President and Chief Executive Officer. "We are pleased that we have been able to reach an agreement with O'Reilly that will enable them to participate in our process." About CSK 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. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion