Rexel Climbs After Rebuffing Offer From Brad Jacobs’ QXO (1)

Rexel SA shares rose the most in four years after the French electrical equipment supplier rejected a more than $9 billion takeover bid from QXO Inc.

The stock climbed as much as 14% in Paris, and traded 10% higher at 11:19 a.m., valuing the company at €7.6 billion ($8.5 billion). The shares remained below the indicative price range of €28 to €28.40 a share offered by QXO.

Rexel distributes electrical products and other equipment across industries ranging from utilities to builders and autos. The board reviewed QXO’s unsolicited, non-binding proposal and rejected it on the grounds that it “significantly ...