Clayton, Dubilier & Rice today announced that it has agreed to waive the matching period in which to make a counterproposal under the terms of its previously announced agreement to acquire Anixter International, Inc. and has entered into an agreement terminating CD&R's merger agreement with Anixter. Upon termination of the CD&R merger agreement, Anixter entered into a merger agreement with WESCO International, Inc. 

CD&R continues to believe that Anixter is an exceptionally well-positioned company. CD&R believes the merger of Anixter and WESCO will be industry defining and wishes both organizations great success in the future as a combined enterprise.

About Clayton, Dubilier & Rice

Founded in 1978, Clayton, Dubilier & Rice is a private investment firm. Since inception, CD&R has managed the investment of $29 billion in 88 companies representing a broad range of industries with an aggregate transaction value of more than $130 billion. CD&R has offices in New York and London. For more information, visit www.cdr-inc.com.