SAN DIEGO, Oct. 30, 2019 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Anixter International Inc. (NYSE: AXE) ("Anixter") breached their fiduciary duties in connection with the proposed sale of the Company to an affiliate of Clayton, Dubilier & Rice ("CD&R").
On October 30, 2019, Anixter announced that it had signed a definitive merger agreement with an affiliate of CD&R. Under terms of the deal, CD&R-managed funds will acquire all of the outstanding shares of Anixter common stock for $81.00 per share in cash.
The investigation concerns whether the Anixter board failed to satisfy its duties to Anixter shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Anixter shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given one Wall Street analyst has a $90.00 price target on the stock.
If you are a shareholder of Anixter and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
SOURCE Johnson Fistel, LLP