Sidley is representing Anixter International Inc. (NYSE: AXE), a leading global distributor of network, security, electrical and utility power solutions, in its pending acquisition by WESCO International, Inc. (NYSE: WCC), a leading provider of electrical, industrial, and communications MRO and OEM products, construction materials, advanced supply chain management and logistics services, in a transaction valued at approximately US$4.5 billion.
Anixter’s prior agreement to be acquired by Clayton, Dubilier & Rice, LLC (CD&R), entered into in October 2019, has been terminated following CD&R’s waiver of its matching rights under the agreement. The current transaction is expected to close during the second or third quarter of 2020.
The cross-office and cross-practice team was led by partners Irving L. Rotter and Gabriel Saltarelli. The team also included M&A associates Steve Ahn, Fayzan Bakhtiar, Christian Bennardo, Whitney Price and Jessica Wood, as well as finance partners Ram Burshtine and Alan G. Grinceri, and capital markets partner David C. Buck. Partner Karen Kazmerzak and counsel Kristin E. Shaffer provided antitrust advice. Additional support was provided by employee benefits partner Audry X. Casusol and associate Karim S. Pirani, tax partner Laura M. Barzilai and associate Rémi D. Gagnon, as well as securities and shareholder litigation partner Andrew W. Stern and associates Charlotte K. Newell and Robert M. Garsson. The team also included capital markets associate Dominic J.T. Nelson and international lawyer William Rizzi.
