Sonepar Makes Unsolicited $3.5 Billion Offer To Acquire Hagemeyer

Paris-based Sonepar SA made an unsolicited offer on Oct. 9 to buy Netherlands-based Hagemeyer for $3.5 billion in a move that would make Sonepar the largest electrical distributor in the world. The bid would be completely in cash, the company said in a statement.

Sonepar intends to bid $5.97 a share for Hagemeyer.

Hagemeyer said in an Oct. 9 press release that it had taken notice of Sonepar’s unsolicited offer and its invitation to a meeting to discuss the bid. Hagemeyer said

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