Valeo hires BoA Merrill to advise on options-report

PARIS, June 4 (BestGrowthStock) – French car parts maker Valeo
(VLOF.PA: ) has hired Bank of America Merrill Lynch (BAC.N: ) to
advise on its strategic options that may include a sale, the
DealBook section of the New York Times said, citing two people
with direct knowledge of the matter.

Valeo was not immediately available for comment.

The report comes as Valeo Chief Executive Jacques
Aschenbroich told the company’s annual shareholders’ meeting on
Thursday that Valeo had hired a financial adviser but did not
identify the firm.

Aschenbroich said the group’s share price evolution had been
“very volatile, probably more volatile than the market since the
beginning of 2009”, and did not reflect the real value of the
company. The group had mandated a bank to help rectify that
situation, Aschenbroich said. [ID:nLDE6521NT]

Valeo shares rose over 7 percent on Thursday, giving it a
market value of 1.8 billion euros ($2.2 billion).

Stock Investing

(Reporting by Dominique Vidalon; Editing by Michael Shields)

(Additional reporting by Blaise Robinson in Paris)

Valeo hires BoA Merrill to advise on options-report