(Reuters) - Anixter International Inc (AXE.N), which supplies communications and security products, said on Wednesday that private equity firm Clayton, Dubilier & Rice had offered to buy the company in an all-cash deal valued at about $3.8 billion.
The deal, expected to close in the first quarter of 2020, represents a premium of 13.4% over the company’s Tuesday close.
Anixter’s lead financial advisers are Centerview Partners and Wells Fargo Securities, while Sidley Austin is serving as its legal adviser.
Bank of America Securities, J.P. Morgan Securities, Deutsche Bank Securities and Credit Suisse are Clayton, Dubilier & Rice’s financial advisers, while Debevoise & Plimpton LLP is its legal adviser.
Reporting by Neha Malara in Bengaluru; Editing by Anil D'Silva