Rexel Negotiating $4.5 Billion Offer with Hagemeyer

Hagemeyer, the Dutch distributor of PPE and other products that has major operations in the Americas, appears close today to agreeing on a $4.5 billion deal that will divide the company between two electrical distributors that had sought to buy Hagemeyer. Rexel, based in Paris, is poised to acquire Hagemeyer with an all-cash offer equivalent to $7.12 per share, then sell Hagemeyer's U.S. and Asian operations to Sonepar, another French distributor.

Rexel and Hagemeyer announced today that they have agreed to begin exclusive negotiations aimed at finalizing an agreement for the Rexel purchase. The two companies said they'd begin conducting due diligence Nov. 14 in anticipation of the purchase. Sonepar owns 10.49 percent of Hagemeyer's 585 million outstanding shares and will tender these to Rexel as part of the deal.

Hagemeyer rejected initial offers from Sonepar and Rexel, saying they undervalued Hagemeyer. The current offer from Rexel, 4.85 euros per share, is the equivalent of 88 cents per share, or 14 percent, higher than Sonepar's offer of 4.25 euros per share.

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OH&S Digital Edition

  • OHS Magazine Digital Edition - July August 2019

    July/August 2019

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      Just Add Water
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      Creating Safe Facilities
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