SubscribeLoginCustomer Service


ADVANCED SEARCH
Log In
Home
Blog
Free Samples
Conferences
Research
Databank
Current Issue
Archives
READER'S CHOICE
Most Popular Stories
• Sonepar's Plans for Hagemeyer
• HD Supply White Cap Enters Minneapolis Market
• Interline Sales Down 2.1% in 1Q
• The Outlook for Distribution
• Night & Day for M&A
HOME
ABOUT MDM
CONTACT US
CUSTOMER SERVICE
Copyright © 2008
Gale Media, Inc.
All Rights Reserved.
E-Mail This Article
Printer-Friendly Version
Related Articles from MDM

IDG Board Recommends Accepting WESCO's $130M Bid
Look Beyond Numbers in IDG Deal
Untitled Document

Enter your email address below to receive our FREE weekly email, MDM Advisor, with industry news, trends and analysis for wholesale distribution executives.

April 22, 2008

Platinum Equity Increases Bid for IDG

The bidding war for industrial distributor Industrial Distribution Group Inc., Atlanta, GA, continues, but without WESCO. Pittsburgh, PA-based electrical distributor WESCO has dropped its bid for IDG, according to a statement released this morning.
 
 
Platinum Equity, the original victor with its offer of $10.30 per share for the distributor, has upped its bid to $11.80 per share in cash in response to WESCO Distribution's earlier bid of $11.75.
 
IDG has until 5 p.m., Eastern Time, today (Tuesday) to accept the price or the offer from Platinum Equity will expire.
 
IDG's Board of Directors have decided to accept Platinum's offer if it does not receive a superior offer from Luther King Capital Management by 3 p.m., Eastern Time, today (Tuesday).
 
If LKCM responds with a higher offer, then Platinum would have the opportunity to match or top its bid.

More Breaking News

  • Increase sales, lower costs and reduce liability. Learn More.
  • SAP: Driving Operational Excellence and Profitable Growth
  • Lawson Distribution: Do Your Growth Plans Need a Boost?
  • Pferd Makes the Difference
  • Pembroke Consulting: Winning Strategies for Distributors, Manufacturers
  • Critical Benchmarks for Distribution Success with Infor
  • Click here to download this IBM Executive Information Kit

    • HOME PRIVACY COPYRIGHT SUBSCRIBE

    GALE MEDIA OUR PRODUCTS ADVERTISING