Clayton, Dubilier & Rice Increases Merger Consideration For Anixter

(RTTNews) - Anixter International Inc. (AXE) announced that the company and Clayton, Dubilier & Rice, LLC have agreed to amend the merger agreement to increase the per share consideration payable to Anixter's shareholders to $82.50 per share from $81.00. The deal is now valued at approximately $3.9 billion.

Under the amended terms, Anixter may solicit superior proposals from third parties through November 24, 2019.

On October 30, 2019, Anixter entered into a merger deal to be acquired by a fund sponsored by Clayton, Dubilier & Rice, LLC, a private investment firm.