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WESCO International wants to acquire Anixter for $97.00 per share

Christian Fernsby ▼ | January 3, 2020
WESCO International today submitted a revised proposal to the board of directors of Anixter International to acquire Anixter for $97.00 per share in cash and stock.
WESCO International
Acquisition   WESCO International
The transaction is not subject to a financing condition. WESCO has obtained fully committed debt financing from Barclays for the cash portion of the transaction. WESCO intends to fund the required cash consideration with a combination of long‐term debt financing and additional equity or equity‐content securities.

Topics: WESCO International acquire Anixter

Anixter stockholders would participate in all the value upside in the WESCO common stock. The common stock consideration would be subject to downside protection, such that if the average market value of WESCO common stock prior to closing is between $47.10 per share and $58.88 per share, then the cash consideration paid at closing would be increased by up to $2.82 per share to ensure that the total consideration remains at $97.00 per Anixter share.