Deals
Avnet to Buy Bell Microproducts for $252 Million
This article is for subscribers only.
Avnet Inc., the U.S. distributor of electronic parts, agreed to buy smaller rival Bell Microproducts Inc. for $252 million in cash to expand its reach in storage and computing products.
Bell stockholders will get $7 a share, Phoenix-based Avnet said today in a statement. That’s 30 percent more than Bell’s closing price March 26. Avnet will also assume $342 million of San Jose, California-based Bell’s debt.