Recent Securities Litigations
Anixter International Inc. (NYSE: AXE)
According to the Complaint, Anixter International Inc.is a leading global distributor of Network & Security Solutions, Electrical & Electronic Solutions, and Utility Power Solutions.
This action stems from a proposed transaction announced on January 13, 2020, pursuant to which Anixter International Inc. will be acquired by WESCO International Inc.
On January 10, 2020, Anixter’s Board of Directors caused the Company to enter into an agreement and plan of merger with WESCO. Pursuant to the terms of the Merger Agreement, Anixter’s stockholders will receive $70.00 in cash, 0.2937 shares of Parent common stock, and 0.6356 depository shares for each share of Anixter common stock they own.
On February 7, 2020, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.