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updated: 3/19/2020 4:27 PM

Anixter to hold virtual stockholders meeting to OK acquisition

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  • Anixter International headquarters in Glenview.

    Anixter International headquarters in Glenview.

 

GLENVIEW -- Anixter International said Thursday it's still holding its special stockholder meeting to approve its proposed acquisition by WESCO International.

Originally scheduled for 8:30 a.m. Thursday, April 9, in Chicago, the meeting will be held online. Stockholders will need to use their control number on the proxy card or notice that had been mailed out by the company earlier.

Pittsburgh-based electrical products distributor WESCO International won the bidding war for Anixter International in January with a roughly $4.5 billion cash and stock deal that will absorb the Glenview-based company into WESCO's portfolio. The global distributor of network & security, electrical & electronic, s and utility power solutions originally announced an acquisition deal with New York-based private equity firm Clayton, Dubilier & Rice LLC, last October, but WESCO made a counterproposal in December which touched off a bidding fight for the company.

The acquisition still needs the approval of Anixter's stockholders to become final.