Anixter to be Acquired by CD&R
Anixter International Inc. – www.anixter.com – has announced that it has entered into a definitive agreement with an affiliate of Clayton, Dubilier and Rice – www.cdr-inc.com - to be acquired in an all cash transaction expected to close in Q1 2020.
Anixter International Inc. (NYSE:AXE) shareholders are to receive $81 per share in cash. The total value of the transaction is expected to be approximately $3.8 billion.
Anixter is a leading global distributor of network and security solutions, electrical and electronic solutions and utility power solutions.
Clayton, Dubilier & Rice – www.cdr-inc.com – are a global private equity firm with offices in New York City and London, England.
“We believe this transaction is in the best interest of Anixter and our stockholders,” said Bill Gavin, President and CEO of Anixter.
Gavin also expressed that CD&R has a “strong reputation and track record of success in helping industrial distributors, like Anixter, prosper and grow”. And as “a private company, we believe Anixter will have greater flexibility to focus on and accelerate our long-term strategic priorities”.