Parradee Kietsirikul
France’s Rexel (OTCPK:RXLSF) (OTCPK:RXEEY) rejected QXO’s (NASDAQ:QXO) acquisition provide that valued its shares as much as €28.40 per share.
Rexel (OTCPK:RXLSF) stated that the provide “considerably undervalued the corporate and didn’t adequately mirror its development potential beneath its strategic plan, PowerUP 2025.”
The deal totaled ~€8.46B (~$9.4B).
Rexel (OTCPK:RXLSF) is a France-based firm specializing within the distribution {of electrical}, heating, lighting and plumbing gear.
QXO (QXO) led by billionaire Brad Jacobs stated that it had no quick plans to submit a revised bid, a supply conversant in the matter informed Reuters.
Entrepreneur Brad Jacobs invested $1B with different buyers in SilverSun Applied sciences and renamed it QXO in June 2024 (QXO).
Rexel (OTCPK:RXLSF) inventory worth traded ~10% increased to €25.24 on the European trade.
