WESCO International Inc. and Anixter International Inc. boards of directors have unanimously approved a merger agreement under which WESCO will acquire Anixter in a transaction valued at approximately $4.5 billion. Anixter’s prior agreement to be acquired by Clayton, Dubilier & Rice LLC was terminated after CD&R waived its right to match WESCO’s $100-per-share offer for Anixter.
The bidding war between WESCO and Clayton, Dubilier & Rice LLC (CD&R) to acquire Anixter International Inc. has reached a $100-per-share offer by WESCO. That offer comprises $70 per share in cash, 0.2397 shares of WESCO common stock, and $15.89 per share in face amount of WESCO perpetual preferred stock. In an announcement on January 9, Anixter said its board of directors determined this $100-per-share offer by WESCO is a “superior company proposal”—a term previously defined in the course of the bidding competition.
After provisionally accepting a a $93.50 per share all-cash offer from private investment firm Clayton, Dubilier & Rice, Anixter International received a $97 per share cash-and-stock offer valued at $4.5 billion from industrial parts supplier Wesco International Inc. Anixter’s board will take the new offer under consideration.
A recent evergreen technical brief, authored by Corning Cable Systems and distributed by eAnixter, takes as its premise the reality that improper use of a cable re-spooler can cause damage to fiber-optic cable jackets or, in tight buffered cables, result in wavy fiber due to cable crossovers or excessive tensile loading. The document provides a recommended procedure for cutting and respooling fiber-optic cables.
Anixter has entered an agreement with an affiliate of private-investment firm Clayton, Dubilier and Rice (CD&R) to be acquired in an all-cash transaction valued at approximately $3.8 billion. Anixter expects the deal, which will take the company private, to close by the end of 2020’s first quarter but is still actively shopping other offers.
Anixter has unveiled its new Utility Grade INFRASTRUCTURE platform. The new technology platform, assurance program and design approach redefines the infrastructure layer to support building subsystems, technologies and applications. Developed alongside the leading network infrastructure manufacturers, Belden, CommScope and Fluke Networks, and third-party tested and verified by UL, Anixter’s UTG program will offer UTG-rated cabling solutions and provide the foundation that will unlock the potential of the next generation of buildings to maximize ROI and enhance user experience.