By CRM Staff
Westchester, Illinois -- February 14, 2018 -- Fenix Parts, a leading recycler and reseller of original equipment manufacturer automotive products, today confirmed that it has received an unsolicited, non-binding offer from Upstate Shredding 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 its 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 Shredding or any other party, will be completed.
For more information, visit fenixparts.com.