POMONA, CA Stockholders of Keystone Automotive Industries recently approved a proposed merger with LKQ Acquisition Co., a subsidiary of LKQ Corp., at a special meeting held in Nashville, TN. The proposed merger was approved with 71 percent of the company’s shares outstanding voting in favor of the transaction and more than 80 percent of the votes cast supporting the proposal.
LKQ is a provider of recycled light vehicle OEM products and related services and the second largest nationwide provider of aftermarket collision replacement products and refurbished wheels. The company operates more than 130 facilities offering its customers a broad range of replacement systems, components and parts to repair light vehicles. Keystone Automotive is a nationwide provider of aftermarket collision parts, distributing its products primarily to collision repair shops through its 137 distribution facilities, of which 22 serve as regional hubs, located in 39 states and Canada.
The closing of the merger currently is expected to occur today. As a result of the merger, Keystone will become a wholly owned subsidiary of LKQ Corp. Under the terms of the merger agreement, Keystone’s stockholders will receive $48 in cash, without interest, for each share of Keystone common stock that they own.