Genuine Parts (GPC) has received a cash bid for its auto-parts business from O'Reilly Automotive (ORLY), Bloomberg reported Thursday, citing people familiar with the matter.
The business could be valued at $10 billion or more in a deal, according to the report, which cited unnamed sources.
Genuine Parts and O'Reilly Automotive did not immediately respond to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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