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Read: Wesco Finalizes Merger With Anixter to Consolidate Fragmented Market

Wesco Finalizes Merger With Anixter to Consolidate Fragmented Market

The transaction was in the works since last year and getting to this point required Wesco to fight off a private equity firm that wanted to buy Anixter.

Read: Wesco and Anixter Name Post-Closing Leadership Team

Wesco and Anixter Name Post-Closing Leadership Team

The transaction is expected to close in the second or third quarter of 2020, subject to the satisfaction of remaining customary closing conditions.

Read: Anixter Ends Bidding War; Agrees to Wesco’s $4.5B Buyout Offer

Anixter Ends Bidding War; Agrees to Wesco’s $4.5B Buyout Offer

Anixter announced plans in October to be acquired by a Clayton, Dubilier & Rice affiliate for $3.8 billion; however, the deal allowed for better proposals.

Read: Anixter Favors New $100 Per Share Cash-and-Stock Offer by Wesco

Anixter Favors New $100 Per Share Cash-and-Stock Offer by Wesco

Rival bidder Clayton, Dubilier & Rice will have five business days to negotiate a counter offer, according to Anixter’s announcement.

Read: Wesco Not Going Quietly, Submits Improved Buyout Bid for Anixter

Wesco Not Going Quietly, Submits Improved Buyout Bid for Anixter

Wesco raised its buyout bid for rival wholesale distributor Anixter to $97 a share in cash and stock, up from $93.50 a share.

Read: Anixter Agrees to CD&R’s Sweetened Buyout Bid Over Wesco

Anixter Agrees to CD&R’s Sweetened Buyout Bid Over Wesco

The revised per-share consideration represents a premium of about 31% over Anixter’s closing price on Oct. 29. The new bid is now valued at $4.3 billion.

Read: WESCO Identified as Competing Suitor to Acquire Anixter

WESCO Identified as Competing Suitor to Acquire Anixter

Sources tell streetinsider.com the “interested party” referenced by Anixter in a Form 8-K filed to the SEC on Dec. 4 is WESCO Int’l.

Read: Anixter to Be Acquired for $3.8B by Private Equity Firm

Anixter to Be Acquired for $3.8B by Private Equity Firm

Anixter will become a private company following the all-cash transaction, which is expected to close by the end of the first quarter of 2020.

Read: Anixter Releases Dates for 2019 Stadium Training Series

Anixter Releases Dates for 2019 Stadium Training Series

The 2019 Anixter Stadium Series will feature training, networking, an expo, product demonstrations and an MLB ballgame.

Read: Anixter Teams With Partners to Secure Bird of Prey Sanctuary in Ireland

Anixter Teams With Partners to Secure Bird of Prey Sanctuary in Ireland

The distributor was joined by Axis Communications and local integrator Evolution in donating a security system at the National Bird of Prey Centre.

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