|Bid||97.81 x 800|
|Ask||97.83 x 800|
|Day's Range||97.38 - 98.10|
|52 Week Range||52.94 - 99.39|
|Beta (5Y Monthly)||1.95|
|PE Ratio (TTM)||12.75|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Dec 08, 2013|
|1y Target Est||N/A|
Zacks.com featured highlights include: Cardinal Health, Anixter International, Abercrombie & Fitch, Brookdale Senior Living and Fluor
One of the well-accepted investment policies is to maintain a diversified portfolio for reaping handsome returns, irrespective of the market volatility.
Zacks.com featured highlights include: Anixter International, Cincinnati Financial, Cimpress and Federated Hermes
Anixter International (AXE) delivered earnings and revenue surprises of 33.74% and 3.36%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Anixter International (AXE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Moody's Investors Service, (Moody's) placed all ratings of WESCO International, Inc., including the Ba3 Corporate Family Rating (CFR) and WESCO Distribution, Inc.'s B1 senior unsecured rating, under review for downgrade. This action follows the announced merger agreement with Anixter International Inc. ("Anixter"). On January 13, Anixter and WESCO announced that their respective boards of directors had approved a definitive merger agreement whereby WESCO would acquire Anixter in a transaction valued at $4.5 billion.
WESCO International (WCC) signs a definite agreement to acquire Anixter International in a bid to further bolster its presence in the electronics industry.
In a transaction valued at about $4.5 billion, Pittsburgh-based WESCO International Inc. (NYSE: WCC) will become the largest company in the North American electrical distribution sector when it finalizes an acquisition of Anixter International (NYSE: AXE) set for later this year. After engaging in a bidding war since Christmas Eve with Clayton, Dubilier & Rice to acquire the Glenview, Illinois, based company, Anixter’s board of directors deemed WESCO’s bid superior late last week. CD&R, which already had a merger agreement in place with Anixter since October 2019, terminated the agreement.
Anixter International Inc. (NYSE: AXE ) and Wesco International, Inc. (NYSE: WCC ) announced Monday that their boards have approved a definitive merger agreement under which Wesco will acquire Anixter ...
Benzinga Pro's Stocks To Watch For Monday WESCO (WCC) - The company agreed to purchase Anixter (AXE) in a $4.5 billion merger. WESCO will pay Anixter shareholders $100/share. lululemon (LULU) - Shares ...
Anixter International Inc. announced Monday an agreement to be acquired by Wesco Interational Inc. in a deal valued at $4.5 billion. The deal appears to end a hard-fought battle between Wesco and Clayton, Dubilier & Rice for Anixter, which include multiple bids and counter bids, and more than one announced deals between Anixter and CD&R. Shares of Anixter, a network security and electrical solutions company, slipped 0.3% in premarket trading, while Wesco shares were still inactive. Under terms of the latest deal, Wesco will pay the equivalent of $100 for each Anixter share outstanding, including $70 in cash, 0.2397 shares of Wesco common stock and preferred stock consideration valued at $15.89 for each Anixter share. Anixter's first announced deal with CD&R was for $81 a share in cash. "This is the result of a very thorough process to determine the value of our company," said Anixter Chief Executive Bill Galvin. Anixter's stock has rallied 44.0% over the past three months through Friday and Wesco's stock has climbed 24.5%, while the Dow Jones Industrial Average has gained 7.5%.
Pittsburgh-based WESCO International Inc. (NYSE: WCC) increased its bid to acquire Anixter International (NYSE: AXE) to $100 per share, according to a news release from WESCO. The move is the latest in a bidding war between WESCO and Clayton, Dubilier & Rice to acquire the Glenview, Illinois-based company. Anixter’s board of directors deemed the most recent WESCO offer as a “superior company proposal” to the most recent CD&R proposal, according to a news release from Anixter.
Wesco International Inc. has finally got what it wanted, as Anixter International Inc. has determined that Wesco's improved buyout bid was "superior" to the merger deal it had [l: previously agreed on with Clayton, Dubilier & Rice LLC (CD&R). If Anixter breaks the CD&R deal, the network and security solutions company will be required to pay a break-up fee of $100 million. Wesco has agreed to pay the termination fee. Under terms of Wesco's raised cash and stock bid, Anixter shareholders will receive the value of $100 for each Anixter share they own, with the deal valued at about $4.5 billion, including debt. The bid consists of $70 a share in cash, 0.2397 shares of Wesco common stock and $15.89 a share in Wesco perpetual perferred stock. Wesco's previous bid was valued at $97 a share in cash and stock, above the CD&R deal of $93.50 a share in cash. Anixter's stock has run up 44% over the past three months and Wesco shares have rallied 35%, while the S&P 500 has gained 11%.
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Wesco International Inc. raised its buyout bid for Anixter International Inc. to $97.00 a share in cash and stock, up from $93.50 a share. The electrical, industrial and communications maintenance provider's increased bid comes a day after Anixter said it agreed to be acquired by Clayton, Dubilier and Rice LLC (CD&R) for $93.50 in cash. Anixter and Wesco shares were still inactive in premarket trading. Under term's of Wesco's new bid, Anixter shareholders would get $63.00 in cash and 0.2397 Wesco common shares, plus $19.89 of newly created Wesco perpetual preferred stock, for every Anixter share they own. The preferred stock is expected to have a fixed market rate of about 9.25%. "We continue to strongly believe this transformative combination is in the best interests of both companies' stockholders and that our latest proposal represents a Superior Company Proposal compared to Anixter's current agreement with CD&R," said Wesco Chief Executive John Engel. Over the past 12 months, shares of Anixter have run up 81.0% and Wesco has climbed 24.5%, while the S&P 500 has gained 33.1%.
Anixter International Inc. said it has agreed to amend its merger agreement with Clayton, Dubilier and Rice LLC (CD&R), in which the per-share bid is increased to $93.50 in cash from $86.00 in cash and a $2.50 contingent value right upon the occurrence of certain events. The new bid is now valued at $4.3 billion. The new per-share bid comes after Wesco International Inc.'s increased its buyout bid on Dec. 26 to $93.50 a share, but that includes $63 a share in cash and the rest in Wesco stock. "In evaluating the new proposal from CD&R, the Board carefully considered the value and risk profile of Wesco's offer comprising cash, Wesco common stock and a new series of Wesco preferred stock, for which there is no established market or trading price," said Anixter Chairman Sam Zell. "The Board has unanimously concluded that CD&R's improved all-cash proposal is superior to Wesco's offer." Anixter's stock has run up 36.3% over the past three months through Tuesday, while Wesco shares have climbed 31.4% and the S&P 500 has gained 11.9%.