Rexel SA (RXLSF.PK), a French distributor of electrical supplies, stated that it rejected QXO's non-binding preliminary proposal, as it significantly undervalues the company and does not reflect its value creation potential through its Power Up 25 strategic plan.
Previously, QXO had proposed to buy Rexel at an indicative price of 28.00 euros to 28.40 euros per share.
Rexel also affirmed its strong confidence in its management to achieve the mid-term objectives presented during the June 2024 Capital Markets Day.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.