Rexel proposes an all cash offer for all outstanding share of Hagemeyer
Agreement with Sonepar to dispose of certain assets Rexel announces that it proposes to make an offer to acquire all of the outstanding ordinary shares of Hagemeyer, including any shares issued under the outstanding convertible bonds and existing employee share plans. Rexel has informed Hagemeyer of its intention and has invited Hagemeyer to meet in order to discuss its proposal in order to obtain a recommendation from Hagemeyer’s Management Board and Supervisory Board.
In order to ensure an orderly market in respect of the securities issued by Rexel and Hagemeyer, Rexel announces that its proposal concerns an all cash offer at a price of €4.60 per share, valuing Hagemeyer’s equity (on a fully-diluted basis) at €3.0 billion. Rexel’s Supervisory Board has unanimously approved the proposed offer.