PARIS, Oct 25, 2007 (AFP) - Dutch electrical supplies distributor Hagemeyer said Thursday it rejected an unsolicited all-cash 3-billion-euro (4.3-billion-dollar) cash takeover bid from its French peer Rexel.

Rexel unveiled the bid, which if it went through would enable the French company to retain its market leadership, earlier Thursday.

Under the proposed deal, Rexel's domestic rival Sonepar would withdraw its earlier bid for Hagemeyer and instead buy selected Hagemeyer assets from Rexel.

PARIS, Oct 25, 2007 (AFP) - Electrical supplies distributor Rexel on Thursday unveiled a 3-billion-euro (4.3-billion-dollar) cash bid for Dutch rival Hagemeyer, which will enable the French company to retain its market leadership.

Rexel's domestic rival Sonepar will withdraw its earlier bid for Hagemeyer and instead buy selected Hagemeyer assets from Rexel, should the takeover succeed.

Rexel said it has informed Hagemeyer's management of the bid and has invited the board to discuss the offer.