An exterior view of the Advance Auto Parts store at the Sunbury Plaza, Sunbury, Pennsylvania.
Paul Weaver | SOPA Images | Lightrocket | Getty Images
Dan Loeb’s Third Point has a stake in Advance Auto Parts and is nearing a settlement that would give the hedge fund three board seats, a person familiar with the matter told CNBC.
The size of the stake was not immediately clear, but the person familiar said that Third Point built it earlier this year.
Advance Auto Parts shares rose 3.7% after the Wall Street Journal first reported the news of Third Point’s position and settlement.
This is breaking news. Please check back for updates.
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