R.L. Polk & Co, owner of used-car history provider Carfax and a leading provider of auto industry data, is exploring its options, including selling the company or taking it public. The suburban Detroit company has hired New York investment banking firm Evercore Partners to explore its options, which could include a sale, an initial public offering or acquisitions, Polk Vice President Lonnie Miller said."We're exploring strategic growth opportunities," Miller said. "There's no defined time line."There was no catalyst that made this happen," he added. "We're trying to see how we can accelerate some of the growth, and all the options are on the table. Everything's fair game."Industry experts say Polk, family-owned for more than 140 years, could attract offers of about $1 billion. Companies that may have an interest include private equity firms, Automatic Data Processing, Reynolds and Reynolds, Dealertrack Technologies, KAR Auction Services, McGraw-Hill Cos Inc's J.D. Power and Associates, Cars.com and Cox Enterprises, which owns AutoTrader.com and Manheim.
Automatic Data Processing, Inc. (ADP), is a provider of business outsourcing solutions. Shares of ADP fell by 0.02% or $-0.01/share to $63.33. In the past year, the shares have traded as low as $50.89 and as high as $63.57. On average, 1952780 shares of ADP exchange hands on a given day and today's volume is recorded at 1035838.
Evercore Partners Inc. is an independent investment banking advisory firm. Shares of EVR fell by 0.44% or $-0.19/share to $42.97. In the past year, the shares have traded as low as $20.57 and as high as $43.67. On average, 400043 shares of EVR exchange hands on a given day and today's volume is recorded at 95032.
KAR Auction Services, Inc. is a provider of vehicle auction services in North America. Shares of KAR traded higher by 1.04% or $0.2/share to $19.50. In the past year, the shares have traded as low as $14.10 and as high as $22.32. On average, 495517 shares of KAR exchange hands on a given day and today's volume is recorded at 668368.
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