WESCO International, Inc. (NYSE: WCC), a leading provider of electrical, industrial, and communications MRO and OEM products, construction materials, and advanced supply chain management and logistics services, confirms that it is seeking to acquire Anixter International (NYSE: AXE), and has most recently made an offer valued at $90 per Anixter share.

Mr. John J. Engel, WESCO's Chairman, President and CEO, commented, "Our proposal to acquire Anixter represents a compelling opportunity to deliver significant and immediate value to Anixter's stockholders, and to afford Anixter stockholders the ability to participate in the long-term growth and value creation of the combined company. Given the substantial expected synergies and an enhanced strategic profile for the combined company, we believe that WESCO's acquisition of Anixter is in the best interests of both companies and their 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."

Advisors

Barclays is serving as financial advisor to WESCO, and Wachtell, Lipton, Rosen & Katz is serving as legal advisor.

About WESCO

WESCO International, Inc. (NYSE: WCC), a publicly traded Fortune 500 holding company headquartered in Pittsburgh, Pennsylvania, is a leading provider of electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturer (OEM) products, construction materials, and advanced supply chain management and logistic services. 2018 annual sales were approximately $8.2 billion. The company employs approximately 9,300 people, maintains relationships with approximately 30,000 suppliers, and serves approximately 70,000 active customers worldwide. Customers include commercial and industrial businesses, contractors, government agencies, institutions, telecommunications providers, and utilities. WESCO operates 11 fully automated distribution centers and approximately 500 branches in North America and international locations, providing a local presence for customers and a global network to serve multi-location businesses and multi-national corporations.