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