WESCO Confirms Proposal To Buy Anixter

(RTTNews) - WESCO International Inc. (WCC) confirmed that it is seeking to buy Anixter International (AXE), and has most recently made an offer valued at $90 per Anixter share.

John Engel, WESCO's Chairman, President and CEO, said, "Our proposal to acquire Anixter represents a compelling opportunity to deliver significant and immediate value to Anixter's stockholders.. This transaction would deliver significant and superior value to our respective stockholders. We are currently determining next steps to effect a transaction and expect to have further comment on these matters shortly."