16.09.2024 06:44:06

Rexel Rejects Buyout Proposal From QXO

(RTTNews) - Rexel SA (RXLSF.PK), a French distributor of electrical supplies, stated that it rejected QXO's non-binding preliminary proposal, as it significantly undervalues the company and does not reflect its value creation potential through its Power Up 25 strategic plan.

Previously, QXO had proposed to buy Rexel at an indicative price of 28.00 euros to 28.40 euros per share.

Rexel also affirmed its strong confidence in its management to achieve the mid-term objectives presented during the June 2024 Capital Markets Day.

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