CD&R’s Merger Agreement to Acquire Anixter Has Been Terminated
NEW YORK, Jan. 13, 2020 /PRNewswire/ -- Clayton, Dubilier & Rice (“CD&R”) today announced that it has agreed to waive the matching period in which to make a counterproposal under the terms of its previously announced agreement to acquire Anixter International, Inc. (“Anixter”) and has entered into an agreement terminating CD&R’s merger agreement with Anixter. Upon termination of the CD&R merger agreement, Anixter entered into a merger agreement with WESCO International, Inc. (“WESCO”).
CD&R continues to believe that Anixter is an exceptionally well-positioned company. CD&R believes the merger of Anixter and WESCO will be industry defining and wishes both organizations great success in the future as a combined enterprise.
About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice is a private investment firm. Since inception, CD&R has managed the investment of $29 billion in 88 companies representing a broad range of industries with an aggregate transaction value of more than $130 billion. CD&R has offices in New York and London. For more information, visit www.cdr-inc.com.
Thomas C. Franco
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Daniel G. Jacobs
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SOURCE Clayton, Dubilier & Rice