Following a report by a French media group, Paris-based Rexel is denying that it’s in talks about a potential buyout.

On Dec. 17, La Lettre reported that Luxembourg-based CVC Capital Partners — guided by Swedish fund Cevian Capital — had expressed interest in acquiring Rexel and that a deal was “currently under negotiation”.

The report went on to suggest that General Electric was also interested in acquiring Rexel’s North American business.

La Lettre covers business, politics and media topics.

Rexel sternly shot down the report later that same day with a brief two-sentence statement:

“In line with its communication practices, the company does not intend to comment on market rumors.

Following the article published in La Lettre today, the company would nevertheless like to clarify that, as of today, it has no ongoing contacts and is not conducting any negotiations with potential buyers.

The company remains focused on executing its strategy and creating value for all of its stakeholders.”

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Context You Should Know

Rexel’s statement suggests that, despite its policy for such matters, the company felt it needed to publicly respond to the report to clarify its position.

Rexel’s stock reportedly jumped 5% after the report, but cooled off after the company’s denial statement and ended the day up 1%.

“With the stock already up 35% this year, analysts at Jefferies note that the hope for a buyout premium now carries extra risk if nothing materializes,” London-based investor publication Finimize wrote regarding the matter.

Back in September 2024, news surfaced that Rexel had turned down a $9.4 billion takeover offer from building materials distributor QXO, which had just formally launched a few months prior. Rexel’s market capitalization was estimated at around $7.5 billion back then, but it has significantly grown since, now estimated at $11.5 billion to $11.8 billion to begin 2026.

Rexel reported 2024 sales of $20.1 billion — 45% of which were in North America (83% in the U.S.). Europe comprises about 49%, with another 6% in Asia-Pacific. The company has a network of more than 1,875 branches in 17 countries, backed by more than 26,000 employees.