Rexel to Buy Hagemeyer for EU3.1 Billion, Sell Units
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Rexel SA, the world's largest distributor of electrical equipment, agreed to buy Hagemeyer NV with a sweetened offer of 3.1 billion euros ($4.5 billion) to expand in Europe as the U.S. market slows.
Rexel, based in Paris, raised its bid for Naarden, Netherlands-based Hagemeyer to 4.85 euros a share, 5 percent more than its previous offer and 68 percent higher than the close on Sept. 27, when takeover speculation began.