Wesco gets commitment from Barclays for part of proposed Anixter buy

By Wendy Van Sickle

Columbus, Ohio, Dec. 30 ¨C Wesco International, Inc. said it has obtained fully committed debt financing from Barclays for the cash portion of its proposed buyout of Anixter International, according to a news release.

Wesco said it is offering to purchase the global distributor of network and security solutions, electrical and electronic solutions and utility power solutions for $93.50 per share in cash and stock, which amount includes $63.00 in cash, 0.2397 shares of Wesco common stock plus $16.65 of a new class of preferreds.

Wesco intends to fund the required cash consideration with a combination of long©\term debt financing and additional equity or equity©\content securities.

Wesco is a Pittsburgh-based provider of electrical, industrial and communications maintenance, repair and operating and original equipment manufacturer products, construction materials, and advanced supply chain management and logistic services.

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