Anixter International (AXE) announced that WESCO International (WCC) submitted a revised proposal to acquire the company for nominal consideration of $97.00 per share in cash and stock, consisting of $63.00 cash, plus a fixed exchange ratio of 0.2397 shares of WESCO common stock, plus $19.89 in face amount of a newly created class of WESCO perpetual preferred stock. As previously announced on January 2, Anixter agreed to an amendment and restatement of its merger agreement with Clayton, Dubilier & Rice to increase the per-share consideration payable to Anixter’s shareholders to $93.50 per share in cash, from $86.00 per share in cash and a $2.50 contingent value right upon the occurrence of certain events. The current merger agreement with CD&R does not include the contingent value right. In accordance with the merger agreement with CD&R, and in consultation with its financial and legal advisers, the board will carefully review and consider WESCO’s latest proposal. The company does not expect to comment further on the latest WESCO proposal until it has completed its review and consideration. Anixter remains subject to, and Anixter’s board has not changed its recommendation in support of, the current merger agreement with CD&R.