Anixter Announces Definitive Agreement to be Acquired for $3.8 Billion
Anixter International Inc., a global distributor of network and security solutions, electrical and electronic solutions and utility power solutions, has entered into a definitive agreement with an affiliate of Clayton, Dubilier & Rice (CD&R) to be acquired in an all cash transaction valued at approximately $3.8 billion. The transaction will result in Anixter becoming a private company and is expected to close by the end of the first quarter of 2020.
Under the terms of the merger agreement, CD&R-managed funds will acquire all of the outstanding shares of Anixter common stock for $81 per share in cash. This represents a premium of approximately 13 percent over Anixter’s closing price on Oct. 29, 2019, and a premium of approximately 27 percent over the 90-day volume-weighted average price of Anixter’s common stock for the period ended Oct. 29.