RBC Capital analyst Deane Dray noted that Wesco (WCC) "creatively" upped its bid for Anixter (AXE) to $93.50 by including the issuance of new preferred shares and a put feature on the Wesco common stock component. While he believes that Wesco's new terms are "demonstrably" above the latest offer that Anixter accepted from Clayton, Dubilier & Rice, Dray also thinks the bidding war "is likely to continue" and that CD&R could also raise its bid for Wesco. The analyst, who added that Wesco shares are likely command some takeout premium even if the company doesn't win the war for Anixter since CD&R also bid for Wesco, keeps a Sector Perform rating on Wesco shares.