Tech distributor Ingram Micro will be acquired by a unit of Chinese conglomerate HNA Group, which has a portfolio of companies in aviation, tourism and logistics and holds Tainjin Tianhai as a subsidiary.
It is Tainjin Tianhai Investment Company that is fronting the deal to buy Ingram and are prepared to pay $6 billion for the US logistics company.
The all-cash deal amounts to $38.90 per share for Ingram, which also distributes information technology products and services.
Tianjin Tianhai said in a statement that the acquisition of Ingram should expand its geographic reach as well as its product and service offerings. Tianhai is based in the port city of Tianjin and is involved in shipping, where it specialises in bulk overseas shipments between China, South Korea, Japan and other Asian countries.
Ingram is a US based logistics company, that also is a leading behind-the-scenes distributor for IT equipment particularly with e-commerce players as well as resellers.
For Ingram shareholders, this is a good deal as they are getting a 39 per cent premium over Ingram's closing price. Ingram is also expected to stay based in Irvine Calif and Ingram CEO Alain Monié and his management team will remain in place. This suggests that Ingram's business will continue as it is.
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