The bidding war between WESCO and Clayton, Dubilier & Rice LLC (CD&R) to acquire Anixter International Inc. has reached a $100-per-share offer by WESCO. That offer comprises $70 per share in cash, 0.2397 shares of WESCO common stock, and $15.89 per share in face amount of WESCO perpetual preferred stock. In an announcement on January 9, Anixter said its board of directors determined this $100-per-share offer by WESCO is a “superior company proposal”—a term previously defined in the course of the bidding competition.

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