The 2020 Mid-Year Economic Update_long

Day: March 27, 2008

Rexel Now Owns 98.6% of Hagemeyer

Paris-based Rexel now owns 98.67% 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. Rexel has agreed to sell Hagemeyer's North American, Asian-Pacific and select European businesses to Sonepar.
 
The overall transaction combines the strengths of three major players in the distribution of electrical supplies. The transaction will broaden Rexel's footprint across Europe, while significantly consolidating Sonepar's positions in North America and ...

Final GDP Growth Estimate: 0.6% for Fourth Quarter

Real gross domestic product -the output of goods and services produced by labor and property in the U.S. -increased at an annual rate of 0.6% in the fourth quarter of 2007, according to final estimates released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 4.9%.
 
The GDP estimates released today are based on more complete source data than were available for the preliminary estimates issued last month. In the preliminary estimates, the increase in real GDP was also 0.6%.
 
The increase in real GDP in the fourth quarter primarily reflected positive contributions from personal consumption expenditures (PCE), exports, nonresidential structures, state and local government spending, and equipment and software that were largely offset by ...

Illinois Tool Works Agrees to Buy Quipp

Illinois Tool Works Inc. has agreed to acquire Quipp Inc., Miami, FL, for between $4.30 and $5.65 per share in cash.
 
Quipp, through its operating subsidiary Quipp Systems Inc., designs, manufactures and installs material handling systems and equipment to facilitate the automated inserting, assembly, bundling and moving of newspapers from the printing press to the delivery truck.
 
ITW is a diversified manufacturer of highly engineered components and industrial systems and consumables with 825 business units in 52 ...