In a blockbuster acquisition that makes it the largest electrical distributor in North America, Rexel has agreed to buy GE Supply, a unit of General Electric, for $725 million.
The announcement ends almost a year’s worth of rumors that GE Supply was on the block. Dick Waterman, president and CEO of the newly created Rexel U.S. holding group, told EM in an exclusive interview July 11 that GE and Rexel were in discussions for the “better part of a year.”
“It’s been a lo
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