RSS   Newsletter   Contact   Advertise with us

WESCO International and Anixter International to merge in $4.5 billion deal

Share on Twitter Share on LinkedIn
Christian Fernsby ▼ | January 14, 2020
WESCO Internationa and Anixter International announced that their boards of directors have unanimously approved a definitive merger agreement under which WESCO will acquire Anixter in a transaction valued at approximately $4.5 billion.
WESCO International
Merger   WESCO International
Under the terms of the agreement, each share of Anixter common stock will be converted into the right to receive $70.00 in cash (subject to increase as described below), 0.2397 shares of WESCO common stock and preferred stock consideration valued at $15.89, based on the value of its liquidation preference.

Topics: WESCO Anixter merge

Based on the closing price of WESCO's common stock on January 10, 2020 and the liquidation preference of the WESCO preferred stock consideration, the total consideration represents approximately $100 per Anixter share, giving effect to the downside protection described below.

Based on transaction structure and the number of shares of WESCO and Anixter common stock currently outstanding, it is anticipated that WESCO stockholders will own 84%, and Anixter stockholders 16%, of the combined company.


 

MORE INSIDE POST