Big O Tires Hires Official to Help Decide if Company Should Be Sold
Big O Tires Inc. hired Horst K. Mehlfeldt, a company director and former senior vice president at General Tire Inc., to help it decide whether it should be sold, seek a merger or pursue some other alternative.
The tire retailer’s board of directors hired Mehlfeldt after receiving a preliminary report on its options this week from investment banker PaineWebber Inc.
The company, based in Englewood, Colo., hired PaineWebber in July in response to a successful shareholder proxy fight calling for the company to explore options to enhance shareholder value. The proposal was pushed by Big O’s largest shareholder, Kenneth Pavia, general partner of Balboa Investment Group LP in Newport Beach.
PaineWebber did not make a final recommendation, a Big O spokesman said.
John E. Siipola, Big O chairman, said the board’s investment committee “is taking action to look into the alternatives that were presented for enhancing the values of the company.”
The company did not disclose Mehlfeldt’s compensation for his new role. PaineWebber will continue to advise the company, Big O said.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
