Uni-Select CEO’s Deal Delivers 418% Gain in Less Than Two Years

Shares of automotive parts distributor Uni-Select Inc. soared to the highest ever after the Canadian company agreed to sell to Chicago-based LKQ Corp.for $2.1 billion.

Uni-Select closed at C$46.97 in Toronto, about 2% below LKQ’s C$48-per-share bid. “It’s a fair price for both parties,” Uni-Select Chief Executive Officer Brian McManus said in an interview.

The bid is 19% higher than Friday’s closing price, but below the average analyst target price of C$51.50, according to data compiled by Bloomberg. Desjardins analyst Benoit Poirier said LKQ’s offer is opportunistic.

“While the board and largest shareholders have already signaled their support for ...