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UK: Avnet places winning offer for Farnell

By  |  July 28, 2016
UK: Avnet places winning offer for Farnell

Avnet, Inc. announced on July 28 that it has reached agreement with Premier Farnell plc on a recommended offer for Premier Farnell by Avnet or one of its wholly-owned subsidiaries. The all-cash offer at £1.85 a share represents an equity value of approximately £691 million and 12.1% over the previous offer of £1.65 per share by Datwyler Technical Components. The transaction is subject to satisfaction or waiver of several conditions, including approval from Farnell shareholders and the court, receipt of regulatory approvals in the European Union, United States and Israel.

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    Gerry Fay, President of Avnet’s Electronics Marketing, said, “In addition to deepening our customer base, this acquisition will enhance our go-to-market strategy as we target the industrial Internet of Things with edge-to-enterprise products and solutions.”

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