Anixter International Inc.NYSE
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  • Jul. 15, 2015, 5:12 PM
    • Anixter International (NYSE:AXE) agrees to acquire HD Supply's (NASDAQ:HDS) Power Solutions unit for $825M, in a deal AXE says will transform it into a leading North American electrical distribution platform.
    • The Power Solutions unit provides a range of products and services to publicly traded utilities, construction and industrial companies.
    • AXE expects the deal to be accretive to earnings in the first full year of operation.
    • After the sale, HDS says it now sees Q2 adjusted EPS of $0.50-$0.56 and revenues of $1.96B-$2.02B; the figures may not compare to analyst consensus estimates of $0.65 EPS on $2.53B revenues.
    | Jul. 15, 2015, 5:12 PM
  • Apr. 1, 2014, 3:59 PM
    • An effort to sell wiring parts maker Anixter International (AXE -5.1%) has stalled as potential buyers reject the company’s price expectations, Bloomberg reports.
    • French electrical-equipment distributor Rexel (RXEEY), earlier considered one of the more likely buyers, apparently decided to pass, and P-E funds Advent and CVC Capital also chose not to bid.
    • AXE reportedly was seeking offers of more than $115/share, while Rexel wasn’t willing to pay more than $110.
    | Apr. 1, 2014, 3:59 PM