Advance Auto Parts, Inc (NYSE:AAP) has announced that it channeled about $200 million in the purchase of the DieHard car battery brand. Reports indicate that Sears Holdings Corp (OTCMKTS:SHLDQ) has been going through a rough patch financially for several years now. Analysts have cited its financial status as the reason behind the sale of the […]
NYSE:AAP
Advance Auto Parts, Inc. (NYSE:AAP) Acquires GPI, Wins Moody’s Baa3 Rating
Boston, MA 10/18/2013 (wallstreetpr) – Delware-based Advance Auto Parts, Inc. (NYSE:AAP), will shortly acquire competitor General Parts International (GPI) for $2.04 billion. The announcement has not only led to 17% surge in share prices but also an ‘unsecured’ Baa3 senior rating by Moody’s Investor Services. According to Moody’s Investor Service Vice President Charlie OShea, “Advance’s acquisition […]
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