now owns 98.67 percent of Hagemeyer NV
, and shares of Hagemeyer will no longer be publicly traded as of mid-April, the companies announced. In November 2007, Rexel and Hagemeyer reached an agreement for Rexel to buy the Dutch electrical distributor for roughly US$4.5 billion. MoreRexel
will complete sales of Hagemeyer
NV 's North American, Asian-Pacific and some European assets to competitor Sonepar
will take place in the next six months, Rexel CEO Jean-Charles Pauze said. Pauze was commenting in an online video interview, posted by the company through the EuroBusiness Media site.
Europe , he says, now represents nearly 60% of Rexel's overall sales, while before the Hagemeyer deal it represented 45 percent. MoreIndustrial Distribution Group
GA , has two more suitors. The company announced today that private equity firm Luther King Capital Management
TX , has made a competing bid for the distributor for $11.70 per share. The proposal represents a 13.6% premium to the $10.30 per share cash offer (or $113 million) made by Platinum Equity
and accepted by IDG. Another company -a strategic buyer known as Bidder D in IDG's news release -has offered $11 per share. That company had participated in the original bidding phase after IDG announced it would consider being sold. IDG would not identify Bidder D. More
James T. Ryan, Grainger
's president, will add the title of CEO effective June 1, 2008. He will succeed Richard L. Keyser, who will remain with the Chicago, IL-based facilities maintenance distributor as chairman of the board. MoreMSC Industrial Direct Co., Inc.
, Melville, NY, has launched its largest Safety Products Catalog in its company history. The new catalog has 40,000 products, a 50 percent increase in SKUs since the company's 2005 catalog. The catalog will be sent to a customer base five times larger than the customer base receiving the 2005 catalog. MoreHD Supply Utilities
recently opened its newly completed headquarters and branch warehouse in Orlando, FL. The new facility houses the HD Supply Utilities Orlando branch and a 52,000-square-foot warehouse. MoreHD Supply Waterworks
, an HD Supply business that distributes a line of water, sewer, fire protection and storm drain products to serve contractors and municipalities in the water, wastewater, storm and fire protection markets, has finalized the purchase of D&M Fabrication
, Inc., Lodi, CA. D&M Fabrication, Inc. specializes in fabricating fire protection systems for distributors and contractors. More
Another HD Supply company, Creative Touch Interiors
, Orlando, FL, which provides customized builder
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