WASHINGTON, February 12, 2015 – Anixter International Inc. (NYSE: AXE) announced that it has entered into a definitive agreement to sell its OEM Supply – Fasteners (“Fasteners”) segment to American Industrial Partners (“AIP”) for $380 million in cash, subject to certain post-closing adjustments. The transaction, which was approved by Anixter’s Board of Directors, is expected to close during the second quarter of 2015, subject to customary closing conditions and regulatory approval.
Baker Botts served as legal counsel to AIP.
Target: Anixter International’s OEM Supply – Fasteners Segment
Outside Counsel to American Industrial Partners: Baker Botts L.L.P.
Other Party: Anixter International Inc.
Outside Counsel to Anixter International Inc.: Sidley Austin LLP
Value: $380 million
Baker Botts Lawyers/Office Involved: Terry Bessey (Special Counsel, Washington, D.C.); Paul Cuomo (Partner, Washington, D.C.); Luke Pedersen (Partner, Washington, D.C.); Don Lonczak (Partner, Washington, D.C.); Derek Jones (Partner, London); Jeff Layman (Partner, Beijing); Rob Fowler (Partner, Houston); Martin Toulouse (Partner, New York); Jordan Herman (Partner, Austin); Ryan Foley (Senior Associate, Washington, D.C.); Krisa Benskin (Senior Associate, Houston); Katrina Atieh (Associate, Washington, D.C.); Jenny Zhang (Associate, New York); Jessica Lei (Associate, Beijing); YW Chung (Special Counsel, Hong Kong); and Joel Overton (Special Counsel, Dallas).
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