8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): September 25, 2006

Anixter International Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Delaware	1-5989	94-1658138
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
2301 Patriot Blvd, Glenview , Illinois		60026
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 224-521-8000

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

On September 25, 2006, Anixter International Inc. (the "Company") reported that it has entered into a settlement with the Internal Revenue Service as to the federal income tax liabilities of the Company and its subsidiaries for the tax years of 1996 through 1998, resulting in a substantial refund. For further information about the settlement, see the Company’s press release, dated September 25, 2006, attached as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

Exhibits

99.1 Press Release, dated September 25, 2006 issued by Anixter International Inc.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Anixter International Inc.
September 25, 2006	By:	Dennis J. Letham
		Name: Dennis J. Letham
		Title: Senior Vice President - Finance and Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	Press Release, dated September 25,2006, issued by Anixter International Inc.

EX-99.1

EXHIBIT 99.1

FOR FURTHER INFORMATION:
AT THE COMPANY:	AT ASHTON PARTNERS:
Dennis Letham Chief Financial Officer (224) 521-8601	Chris Kettmann Investor and Media Inquiries (312) 553-6716

ANIXTER INTERNATIONAL INC.
REPORTS SETTLEMENT WITH THE INTERNAL
REVENUE SERVICE FOR THE 1996 THROUGH 1998 TIME PERIOD

GLENVIEW, IL, September 25, 2006 – Anixter International Inc. (NYSE: AXE)(“Anixter”), the world’s leading distributor of communication products, electrical and electronic wire & cable and a leading distributor of fasteners and other small parts (“C” Class inventory components) to Original Equipment Manufacturers, today reported that it has entered into a settlement with the Internal Revenue Service as to the federal income tax liabilities of Anixter and its subsidiaries for the tax years 1996 through 1998.

Under the terms of this settlement, the Company will be able to deduct certain losses on its U.S. tax return arising from changes in the IRS regulations that became effective in 1996. The refund associated with this tax issue will be approximately $13.7 million, plus applicable interest, and will be recorded in the Company’s third quarter results.

As a result of this settlement and the completion of the 2005 federal tax return, the Company will also be adjusting its income tax reserves and payables during the third quarter of 2006 (currently expected to be approximately $4.4 million of additional income tax benefit). The total estimated effect on the third quarter tax provision will be approximately $18.1 million or 41 cents per diluted share. At the same time Anixter will record as income, net of applicable tax thereon, approximately $4.8 million or 11 cents per diluted share as the estimated amount of interest to be received on the settlement.

The 1996-1998 refund has been approved by the Joint Committee on Taxation of the U. S. Congress and is expected to be received in the next few weeks.

About Anixter

Anixter International is the world’s leading distributor of communication products, electrical and electronic wire & cable and a leading distributor of fasteners and other small parts (“C” Class inventory components) to Original Equipment Manufacturers. The company adds value to the distribution process by providing its customers access to 1) innovative inventory management programs, 2) more than 325,000 products and over $800 million in inventory, 3) 204 warehouses with more than 5 million square feet of space, and 4) locations in 227 cities in 46 countries. Founded in 1957 and headquartered near Chicago, Anixter trades on The New York Stock Exchange under the symbol AXE.

Safe Harbor Statement

The statements in this news release that use such words as “believe,” “expect,” “intend,” “anticipate,” “contemplate,” “estimate,” “plan,” “project,” “should,” “may,” or similar expressions are forward-looking statements. They are subject to a number of factors that could cause the company’s actual results to differ materially from what is indicated here. These factors include general economic conditions, technology changes, changes in supplier or customer relationships, commodity price fluctuations, exchange rate fluctuations, new or changed competitors and risks associated with integration of recently acquired companies. Please see the company’s Securities and Exchange Commission filings for more information.

Additional information about Anixter is available on the Internet at
www.anixter.com