On 23 November 2007, the board of Hagemeyer agreed to a €3.1 billion takeover offer from larger French rival Rexel. Upon completion of the bid, some of Hagemeyer's units were then sold on to Sonepar, a privately held French company in the same sector. Sonepar had previously had its own lower bid for Hagemeyer rejected. Hagemeyer was removed from the AEX index on 7 March 2008 as Rexel declared its offer unconditional. Delisting of the firm's shares from the Amsterdam Stock Exchange took place on 21 April.