CD&R Drops Anixter Bid, Paving Way For WESCO's $4.5B Deal
Law360 (January 13, 2020, 10:16 AM EST) -- Multinational electronics distributor WESCO has won the battle to buy Anixter with an offer worth roughly $4.5 billion after private equity firm Clayton Dubilier & Rice dropped its bid for the network and security solutions business, the companies said Monday.
Pennsylvania-based WESCO International Inc. and New York-headquartered Clayton Dubilier & Rice LLC have been jockeying for the right to buy Illinois-based Anixter for months, with the private equity firm and Anixter originally announcing an $81 per share deal in October.
On Monday, CD&R said it has decided to waive its ability to match WESCO’s most recent offer for Anixter, which was...
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