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Ingram Micro sells for USD 6 bln to HNA
2016-02-18 10:09:00| Telecompaper Headlines
(Telecompaper) US-based electronics distributor Ingram Micro has agreed to be acquired by China's Tianjin Tianhai for USD 38.90 a share in cash, with the equity value reaching around USD 6 billion. Ingram Micro will become a part of HNA Group, a Hainan-based Fortune Global 500 enterprise group and a leader in aviation, tourism and logistics and the largest stockholder of Tianjin Tianhai. The transaction, which has been unanimously approved by both Ingram Micro's and Tianjin Tianhai's boards of directors and is expected to close in the second half, represents a premium of 39 percent over the average closing share price of Ingram Micro for the 30 trading days to 16 February.
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Category:Telecommunications