Electronics Production |
Bell Micro acquired by Avnet
Bell Microproducts Inc. announced today that it has entered into a definitive agreement to be acquired by Avnet, Inc. in an all cash merger for $7.00 per share.
The total transaction value of approximately $594 million is based upon an equity value of approximately $252 million and a Bell debt position, at face value and net of cash, of $342 million at December 31, 2009. The acquisition has been approved by the Boards of Directors of both companies and is subject to the approval of Bell's shareholders as well as customary regulatory approvals. The transaction is expected to close in 60 to 120 days.
