NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder law firm, has launched an investigation into whether the board members of Anixter International Inc. (NYSE: AXE) breached their fiduciary duties or violated the federal securities laws in connection with the company’s proposed sale to Clayton, Dubilier & Rice.
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On October 30, 2019, Anixter announced that it had signed an agreement to be acquired by Clayton, Dubilier & Rice for $82.50 per share in cash, or a total of approximately $3.8 billion.
On December 4, 2019, Anixter filed a preliminary proxy statement with the SEC recommending Anixter shareholders vote in favor of the proposed merger agreement. The date of the shareholder vote is yet to be released.
Bragar Eagel & Squire is concerned that Anixter’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Indeed, Anixter’s stock has recently traded well above the $82.50 per share deal price. Moreover, the preliminary proxy statement filed with the SEC discloses that another potential buyer has offered more than the $82.50 per share agreed to by Anixter’s board. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Anixter stockholders.
If you own shares of Anixter and are concerned about the proposed merger, or you’re interested in learning more about the investigation or your legal rights and remedies, please contact Brandon Walker or Alexandra Raymond by email at email@example.com or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.