O'Reilly Automotive has submitted an unsolicited cash offer worth more than $10 billion to acquire Genuine Parts Company's automotive division, home to the NAPA Auto Parts brand, according to people familiar with the matter. The bid gives Genuine Parts' board an alternative to its own February 2026 plan to split the company by spinning off its automotive and industrial (Motion) units into two separate public companies.
The NAPA division generated more than $15 billion in sales last year across over 10,000 locations worldwide, competing in an estimated $200 billion US automotive aftermarket. News of the approach sent Genuine Parts shares up as much as 13%, while O'Reilly stock slipped roughly 3-7% on investor concerns about deal size and integration risk. Genuine Parts is working with JPMorgan and Guggenheim Securities as advisers, and activist investor Elliott Investment Management has separately been pressing the company on its strategic direction.
If completed, the acquisition would be O'Reilly's largest since it bought CSK Auto for about $1 billion in 2008, reshaping the competitive landscape of the auto-parts retail sector. A decision on whether Genuine Parts pursues the cash offer or sticks with its spinoff plan is expected by late summer 2026.