Fenix Parts Confirms Receipt of Unsolicited Offer from Upstate Shredding, LLC
FENIX PARTS (FENX)
US:NASDAQ Investor Relations:
ir.fenixparts.com
Company Research
Source: GlobeNewswire
WESTCHESTER, Ill., Feb. 13, 2018 (GLOBE NEWSWIRE) -- Fenix Parts, Inc. (Pink Sheets:FENX), a leading recycler and reseller of original equipment manufacturer (“OEM”) automotive products, today confirmed that it has received an unsolicited, non-binding offer from Upstate Shredding, LLC to acquire all of the outstanding shares of common stock of Fenix Parts. The non-binding offer was received outside of the Company’s previously announced strategic alternatives process, which is being managed by Stifel. Fenix Parts said its Board of Directors would continue to work with its financial and legal advisors to pursue a strategic or financial transaction that it believes is in the best interest of the Company and Fenix Parts shareholders. The Company said that it does not expect to provide further updates on the progress of this process until it deems appropriate and cautioned its stockholders not to assume that the aforementioned non-binding offer, or any other transaction with Upstate Shr
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