Rexel Rejects Undervalued QXO Bid – Shares Surge
Rexel's Response to QXO Bid
On Monday, Rexel (EPA:RXL) saw its shares experience a notable surge after the company announced its rejection of a preliminary bid from QXO (NASDAQ:QXO). This unsolicited offer was priced between €28.00 and €28.40 per share, a valuation that Rexel found insufficient.
Market Reaction
The rejection of the bid led to increased trading volumes, reflecting strong investor confidence in Rexel's strategic positioning. Market analysts are keeping a close eye on Rexel's next moves as QXO’s bid was expected to create significant changes in the competitive landscape.
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