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Anixter will review Wesco’s $93.50 per share proposal

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Anixter International’s (AXE +2.5%) board says it will review Wesco International’s (WCC +4.5%) revised proposal to buy the company for $93.50 per share in cash, common stock, and preferred stock.

The company, which has already agreed to a proposal by Clayton, Dubilier & Rice, said the board hasn’t changed its recommendation in support of the CD&R amended agreement.

The amended CD&R proposal offers $82.50 in cash plus a $2.50 contingent value right per each share of AXE.

Previously: Wesco sweetens bid for Anixter (Dec. 26)

Source: M A News on Seeking Alpha