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WESCO International Inc., a provider of electrical, industrial, and communications MRO and OEM products, construction materials, advanced supply chain management and logistics services, submitted an improved proposal to the board of Anixter International to acquire Anixter for $100 per share in cash and stock.

The takeover offer is valued at $4.5 billion, according to the Chicago Tribune. The Cook County, Illinois, company has the largest and broadest wire and cable product offering in the world with 65,000 products.

The Anixter board determined WESCO’s proposal represents a “superior company proposal” as the Pittsburgh company has gradually raised its offer against PE firm Clayton, Dubilier & Rice.

Based on the number of shares of WESCO and Anixter common stock currently outstanding, it is anticipated that WESCO stockholders would own 84 percent, and Anixter stockholders 16 percent of the combined company. The value opportunity for Anixter stockholders is at least $115 per share.

CD&R still has a chance to counter WESCO’s offer, as it has five business days to amend its bid.