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.