Colan Entreprendre, the holding company which owns French trading house Sonepar, has built up a 5.77 stake in Dutch trading group Hagemeyer, according to records held by the financial sector supervisor AFM.

On Tuesday, Sonepar brought out a €4.25 a share offer for Hagemeyer, valuing the company at €2.5bn. Hagemeyer said the bid ‘significantly undervalued’ the company.
The Financieele Dagblad says that Sonepar’s attempt to buy Hagemeyer is likely to generate a ‘serious bidding war’. Rexel is named as a potential rival suitor.