Electric component distributor Avnet Inc, reported today that it has achieved agreement with the Board of Directors of Premier Farnell plc (“Premier Farnell”) on the terms of a prescribed offer for Premier Farnell by Avnet or one of its completely claimed auxiliaries. The all-cash offer of £1.85 per offer speaks to a value estimation of around £691 million and a 12.1% premium over the past offer of £1.65 per offer by Datwyler Technical Components UK Limited. Headquartered in Leeds, United Kingdom.
As reported by Avnet, the transaction is intended to be effected by means of an English court-sanctioned scheme of arrangement and is subject to satisfaction or waiver of several conditions, including the approval of Premier Farnell shareholders and the court, receipt of regulatory approvals in the European Union, United States and Israel, and other customary conditions.
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