Rexel’s headquarters in France decided to release a two sentence statement to end speculation and rumors about a potential buyout.
Following a report in the French newspaper La Lettre, Rexel released this statement and has avoided any further comment.
“Following the article published in La Lettre today, the company wishes to clarify that, to date, 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 its stakeholders.”
The newspaper in France reported “Guided by the Swedish fund Cevian Capital, which serves as the point of contact with Rexel’s management, the Luxembourg-based CVC Capital Partners has expressed interest in acquiring the French group. Currently under negotiation, this transaction could constitute the largest merger and acquisition since the takeover of Doliprane.”
The newspaper report sent Rexel’s stock up for a short period of time, before the Rexel announcement brought the stock price back down.
In September of 2024, Rexel rejected a $9.4 billion offer from QXO, saying that it significantly undervalued the company. QXO did not submit a counter offer.
Analysts say there is growing interest in acquisitions in electrical distribution due to electrification and data centers, especially in the United States.
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