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Anixter accepts $4.5 billion buyout offer from WESCO

January 15, 2020SSN Staff

PITTSBURGH and GLENVIEW, Ill.—On Jan. 6, after a month-long bidding war with an affiliate of private equity firm Clayton, Dubilier & Rice, which first proposed purchasing Anixter for $3.8 billion in October 2019, the Glenview, Illinois-based company announced a merger agreement with Pittsburgh-based WESCO International. Boards of both Anixter and WESCO unanimously approved a $4.5 billion cash-and-stock deal, according to the announcement. The agreement needs shareholders' and regulators'...

Anixter, Bill Gavin, John Engel, Mergers & Acquisitions, Sam Zell, WESCO