Wesco beats out CD&R in deal to buy Anixter, after multiple bids and counter bids [MarketWatch]
ANIXTER INTL (AXE)
Last anixter intl earnings: 4/28 06:30 am
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investors.anixter.com/home/default.aspx
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Source: MarketWatch
Wesco beats out CD&R in deal to buy Anixter, after multiple bids and counter bids Anixter International Inc. AXE, +0.00% announced Monday an agreement to be acquired by Wesco Interational Inc. WCC, -0.68% in a deal valued at $4.5 billion. The deal appears to end a hard-fought battle between Wesco and Clayton, Dubilier & Rice for Anixter, which include multiple bids and counter bids , and more than one announced deals between Anixter and CD&R. Shares of Anixter, a network security and electrical solutions company, slipped 0.3% in premarket trading, while Wesco shares were still inactive. Under terms of the latest deal, Wesco will pay the equivalent of $100 for each Anixter share outstanding, including $70 in cash, 0.2397 shares of Wesco common stock and preferred stock consideration valued at $15.89 for each Anixter share. Anixter's first announced deal with CD&R was for $81 a share in cash. "This is the result of a very thorough process to determine the value of our company," sa
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