Technical goods trader Hagemeyer and French peer Rexel are entering exclusive talks on Rexel’s bid to take over the Dutch firm.
Hagemeyer rejected Rexel’s earlier offer of €4.60 per share but Rexel has now upped this to a provisional €4.85, or €2.86bn.
If the takeover succeeds, Rexel plans to sell some parts of Hagemeyer to French firm Sonepar which earlier made its own bid for the Dutch firm. In effect, Hagemeyer will be split up between the two market leaders, news agency ANP says.
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