WESCO, a multinational electronics distribution and services company, completed the acquisition of Anixter International, a communications and security products provider, for $4.5bn. WESCO outbid the offer from Clayton, Dubilier & Rice to buy Anixter. "Today marks a significant milestone for WESCO and Anixter. In combining two industry leaders with successful track records, we are creating the premier electrical, communications and utility distribution and supply chain solutions company in the world. This is a transformational combination that provides substantial value creation for our customers, supplier partners, employees, investors, and the communities in which we operate," John Engel, WESCO Chairman, President, and CEO.