Distributor Ingram Micro is to be acquired by Chinese conglomerate HNA Group, in a deal worth about $6 billion.
Ingram, based in Irvine, CA, distributes PCs and other technology products, including TVs, monitors, game consoles and software.The HNA Group’s base is in marine shipping, but has moved into multiple other areas. An investment arm, Tianjin Tianhai Investment, will pay $38.90 per share for Ingram – around a 39% premium over the company’s average closing share price for the last 30 days.
The CEO of Ingram Micro, Alain Monié, said, “[W]e expect [the deal] to provide exciting new opportunities for our vendors, customers and associates.”
After the deal is finalised, Ingram will operate as a subsidiary of Tianjin Tianhai, and become part of the HNA Group, although its headquarters will remain in Irvine, California. It is thought that all lines of business, as well as regional and national operations, will continue unaffected.
The boards of both companies have approved the deal, which is expected to be closed in the second half of the year.
