After rejecting unsolicited bids from two of the world’s largest electrical distributors, Netherlands-based Hagemeyer agreed to a sweetened $4.55 billion buyout by Rexel, Paris.
Rexel and Hagemeyer said in a statement they would enter exclusive negotiations to discuss selling Hagemeyer’s American, Asian-Pacific and certain European businesses to Paris-based Sonepar. More than half of the sales Sonepar would get from Hagemeyer’s businesses are in North America.
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