Rexel and Sonepar Bid For Hagemeyer

The drama of consolidation among Europe’s largest electrical distributors continues to unfold. Rexel, Paris, made a $4.3 billion hostile bid for Netherlands-based Hagemeyer in the last week of October. The bid came a few weeks after Sonepar made an unsolicited offer to buy Hagemeyer for $3.5 billion.

Rexel’s offer is a 47 percent premium over Hagemeyer’s average share price for the one-month period prior to Oct. 9, Rexel said. Even though the offer is significantly higher than the $3.

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