Anixter amends merger agreement following raised offer from CD&R

By Sarah Lizee

Olympia, Wash., Jan. 2 – Anixter International Inc. announced on Thursday that it has agreed to a further amendment and restatement of its merger agreement with Clayton, Dubilier & Rice LLC to increase the per-share consideration payable to Anixter’s shareholders, raising the value of the transaction to $4.3 billion.

The second amended merger agreement amends and restates in its entirety the agreement announced on Dec. 23 and valued at about $4 billion.

As reported on Dec. 4, Anixter received a commitment for $3.85 billion of debt financing to help fund its acquisition by CD&R.

BofA Securities, Inc., J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc., UBS Investment Bank, BNP Paribas Securities Corp., ING Capital LLC, Natixis, Societe Generale and Bank of Nova Scotia provided the debt commitment.

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