Anixter International (AXE) approached by WESCO International (WCC)

  • January 2, 2020

POTENTIAL DEAL DETAILS

Stock Anixter International Inc. Symbol AXE
Date Announced 12/24/2019 Source Press release
Type Unsolicited Bid Acquiring Company/Person WESCO International, Inc.
Date of Confirmation: 01/13/2020 Price at Confirmation: $98.79
Potential Profit: 9.73% Annualized Profit: 177.57%

WESCO International, Inc. (WCC), a leading provider of electrical, industrial, and communications MRO and OEM products, construction materials, and advanced supply chain management and logistics services, confirms that it is seeking to acquire Anixter International (AXE) and has most recently made an offer valued at $90 per Anixter share.

Update(s):

December 27, 2019: Anixter International Inc. (AXE) announced today that it has received a revised proposal from WESCO International, Inc. (WCC) on December 26, 2019 under which Anixter shareholders would receive consideration nominally valued at $93.50 per share.

January 02, 2020: Anixter International Inc. (AXE), a leading global distributor of Network & Security Solutions, Electrical & Electronic Solutions and Utility Power Solutions, has agreed to a further amendment and restatement of the Amended Merger Agreement with Clayton, Dubilier & Rice LLC  to increase the per-share consideration payable to Anixter’s shareholders to $93.50 per share in cash (from $86.00 per share in cash and a $2.50 contingent value right upon the occurrence of certain events). The transaction is now valued at approximately $4.3 billion.

January 09, 2020:  WESCO International, Inc. (WCC), a leading provider of electrical, industrial, and communications MRO and OEM products, construction materials, advanced supply chain management and logistics services, today confirmed it submitted an improved proposal to the board of directors of Anixter International (AXE) to acquire Anixter for $100 per share in cash and stock. The Anixter board has determined WESCO’s proposal represents a “Superior Company Proposal” as defined in Anixter’s merger agreement with Clayton, Dubilier & Rice (CD&R).

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