Feb 20 Anixter International Inc, which
is backed by real estate mogul Sam Zell, has enlisted Goldman
Sachs to find a buyer, Bloomberg News reported on Thursday,
citing people with knowledge of the matter.
The company, which distributes communications and security
products including electronic wires, has tried to sell itself
"several times" over the past few years, the report cited one of
the sources as saying.
Glenview, Illinois-based Anixter is weighing a sale again as
its shares have climbed and on the back of
stronger-than-expected revenue growth.
The company's shares, which have gained about 17 percent so
far this year, rose as much as 6 percent to an all-time high of
$109.19 on Thursday. Shares edged higher in extended trading.
Zell owns a 15 percent stake in the company, according to
Thomson Reuters data. Zell and his son, Matthew, also serve on
The report said Anixter would look for second-round bids
next month and that French company Rexel SA is one of
the bidders. The company had a market valuation of $3.42 billion
as of Thursday's close.
Private equity firm Carlyle Group LP and U.K
engineering firm Melrose Industries Plc are among the
companies that have looked and passed on buying Anixter in
recent weeks, according to the Bloomberg report. ()
Anixter's Chief Financial Officer Ted Dosch said it was
company policy not to comment on market rumors. Goldman Sachs
could not be immediately reached for comment outside regular
U.S. business hours.