Rexel: confirmation and rejection of acquisition offer
(CercleFinance.com) - Rexel confirms that its Board of Directors has received and examined in detail an unsolicited, preliminary and non-binding proposal from QXO concerning a possible acquisition of the group at an indicative price of E28 to E28.
40 per share.
The Board has unanimously decided not to proceed, considering that the proposal significantly undervalues the company and does not reflect the value creation potential of its Power Up 25 strategic plan.
The Board of Directors remains very confident in the ability of Rexel's management to achieve the medium-term objectives presented at the June 2024 capital markets day, the electrical supplies distributor says.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
40 per share.
The Board has unanimously decided not to proceed, considering that the proposal significantly undervalues the company and does not reflect the value creation potential of its Power Up 25 strategic plan.
The Board of Directors remains very confident in the ability of Rexel's management to achieve the medium-term objectives presented at the June 2024 capital markets day, the electrical supplies distributor says.
Copyright (c) 2024 CercleFinance.com. All rights reserved.