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Electronics Production | September 20, 2010

Arrow Electronics acquires Nu Horizons Electronics

Arrow Electronics has agreed to acquire Nu Horizons Electronics in an all cash transaction for USD7.00 per share.
"This acquisition builds on our strategy to expand our global capabilities, especially in the fast-growing Asia-Pacific region," said Michael J. Long, chairman, president, and chief executive officer of Arrow Electronics, Inc. "Nu Horizons' strong customer and supplier relationships and talented employees will allow us to continue to enhance shareholder value."

Nu Horizons is headquartered in Melville, N.Y., and has over 700 employees. Total sales were USD 671 million for the fiscal year ended February 28, 2010. The transaction is expected to be USD 0.05-0.10 per share accretive to earnings in the first full year of operations. The acquisition has been approved by the Boards of Directors of both companies and is subject to the approval of Nu Horizons' shareholders as well as customary regulatory approvals. The transaction is expected to close during the fourth quarter of 2010.

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