Tech Data CorporationNASDAQ
Tech Data Worth Owning, Just Wait For A Better Price
Mon, Sep. 19, 7:10 AM
- Under the terms of the agreement, Avnet (NYSE:AVT) will receive $2.4B in cash and 2.8M shares of Tech Data (NASDAQ:TECD) common stock currently valued at about $200M.
- "Moving forward, Avnet will focus its resources and investments on becoming a leader in design chain and supply chain services," says newish CEO William Amelio.
- Avnet expects to book a gain of $3.75-$4.75 per share upon closing (anticipated in H1 of next year). For Tech Data's part, the deal is expected to be significantly accretive to non-GAAP EPS in the first year after closing.
- An Avnet conference call is set for 11:30 ET. A Tech Data conference call is set for 8:30 ET.
- AVT +2% premarket
Mar. 18, 2015, 11:51 AM
- Tech Data's (TECD -0.5%) Peruvian and Chilean businesses are expected to add more than $270M/year in revenue to Ingram's (IM +0.2%) top line, and be slightly to 2015 EPS. Ingram hasn't disclosed how much much it paid for them.
- Ingram has been in an acquisitive mood lately: Last fall, it bought French logistics/repair services firm ANOVO and a majority interest in leading Turkish IT distributor Armada.