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.
Wesco raised its buyout bid for rival wholesale distributor Anixter to $97 a share in cash and stock, up from $93.50 a share.
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.
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.
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.
The 2019 Anixter Stadium Series will feature training, networking, an expo, product demonstrations and an MLB ballgame.
The distributor was joined by Axis Communications and local integrator Evolution in donating a security system at the National Bird of Prey Centre.
Mitch Reitman will simplify the new IRS Code Section 199a that deals with huge tax credits for certain small businesses.
The Network & Security Solutions segment reported quarterly sales of $1.14 billion, an increase of 8.5% or 6.4% on an organic basis.
The award will be presented to Comunale during SIA Honors Night on Nov. 14 in New York City, held each year concurrently with ISC East.
Anixter has spent the past decade strengthening its security products distribution position, first by acquiring CLARK Security Products and more recently Tri-Ed. Freshly unified under the Anixter name, company execs tell how greater reach, resources and expertise work to their customers’ advantage.
This session will help integrators better understand the needs and market demands of their retail customers.
Take a closer look at all the recurring monthly revenue trends from our 2021 research
