Rexel's Largest Holder Cevian Backs Firm in Spurning QXO Bid [Financial Post (Toronto, Ontario, Canada)]
QXO, Inc. (QXO)
Company Research
Source: Financial Post
unsolicited takeover attempt from billionaire Brad Jacobs' QXO Inc., saying the bid undervalued the company. Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Activist investor Cevian Capital AB — Rexel SA's largest shareholder — supported the French electrical equipment supplier's decision to rebuff an unsolicited takeover attempt from billionaire Brad Jacobs' QXO Inc., saying the bid undervalued the company. Rexel on Sunday said its board rejected QXO's non-binding bid of €28 to €28.40 per share on the grounds that it “significantly undervalues” the company. Cevian Managing Partner Christer Gardell said Monday that Rexel has a strong outlook for further value creation, backed by trends such as electrification, energy efficiency, reshoring and automation as well as consolidation opportunities. “We support the decision of the Rexel board to reject QXO's proposal,” Gardell said in a written state
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QXO
News
- QXO: An Inexpensive Way To Bet A Proven Jockey [Seeking Alpha]Seeking Alpha
- European Shares Edge Lower as Focus Turns to Fed, BOE Decisions [BNN Bloomberg (Canada)]BNN Bloomberg
- QXO Reports Second Quarter 2024 ResultsGlobeNewswire
- Oppenheimer analysts see fertile ground for Jacobs' plans at new venture QXO [Yahoo! Finance]Yahoo! Finance
- QXO's Share Plunge Erases $37 Billion in Paper Value [Yahoo! Finance]Yahoo! Finance
QXO
Sec Filings
- 8/28/24 - Form 4
- 8/14/24 - Form 10-Q
- 8/14/24 - Form 8-K
- QXO's page on the SEC website