Activist Third Point nears deal with Advance Auto Parts for three board seats

An exterior view of the Advance Auto Parts store at the Sunbury Plaza, Sunbury, Pennsylvania.Dan Loeb's Third Point and activist Saddle Point have a stake in Advance Auto Parts and reached a settlement with the company that will give the activists three board seats, the company confirmed on Monday.The size of the stake was not immediately clear, but a person familiar with the matter said that Third Point built it earlier this year.Advance Auto Parts shares rose 3.7% after the Wall Street Journal reported th ...