Ingram Micro to Be Bought by Tianjin Tianhai for $6 Billion
- U.S. networking supplier to become part of China's HNA Group
- Chinese company trying to expand reach of logistics operations
Cables lead from the back of a switch unit in the server hall of the data storage center at the headquarters of Rostelecom PJSC, the state telecommunications operator, in Moscow, Russia, on Tuesday, Dec. 29, 2015. Netflix Inc. signed agreement with Rostelecom to use its TV service starting in 2016.
Photographer: Andrey Rudakov/BloombergIngram Micro Inc., a computer, networking and software distributor, agreed to be acquired by China’s Tianjin Tianhai Investment Co. for $38.90 a share in cash, or an equity value of $6 billion.
Ingram Micro, which also provides technology services, will become part of HNA Group, the largest stockholder of Tianjin Tianhai, the companies said Wednesday in a statement. The deal, representing a 39 percent premium to Ingram Micro’s 30-day average closing stock price, has been approved by both companies’ boards, they said.