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Anixter go-private offer raised to $86/share

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Anixter International (NYSE:AXE) and a fund sponsored by Clayton, Dubilier & Rice amend the prior merger agreement to raise the per-share consideration from $82.50 to $86 in cash plus a $2.50 contingent value right.

The revised amount represents a premium of 20% over AXE’s closing price on October 29.

The transaction is now valued at about $4B.

The deal is expected to close in early February 2020.

Source: M A News on Seeking Alpha