Rexel in Negotiations to Acquire Hagemeyer for $4.5B
Hagemeyer and Rexel entered exclusive negotiations aimed at finalizing an agreement under which Rexel would make an all-cash offer of & euro; 4.85 per share, approximately 3.1 billion euro in total, or US$4.5 billion. Under the agreement, Hagemeyer’s Management and Supervisory Boards would recommend Hagemeyer accept this offer.
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The offer is up from Rexel’s original bid of & euro; 4.60, which had valued the company at US$4.3 billion.
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Rexel’s agreement with Sonepar will stand. As part of that agreement, Rexel will sell Sonepar the American, Asian-Pacific and select European activities of Hagemeyer.
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For Rexel’s part, in the original proposal, it said it would acquire Hagemeyer’s Professional Products & Services (PPS) activities in the Baltic …
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