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Avnet to acquire Marshall
June 28, 1999: 11:14 a.m. ET

Electronics component companies in cash-stock-debt deal worth $830M
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NEW YORK (CNNfn) - Avnet Inc. will acquire Marshall Industries for about $830 million in stock, cash and debt, the electronics component companies announced Monday.
     Phoenix-based Avnet said it will divide the stock and cash component of the deal equally, and will assume $160 million of El Monte, Calif.-based Marshall's debt.
     Both firms' boards of directors have approved the deal and, assuming they get the go-ahead from shareholders and regulators, the deal is expected to be completed in about three months.
     As part of its Marshall acquisition, Avnet will also get a 16 percent ownership interest in Eurotronics BV, a Netherlands-based electronic components distributor. Avnet is currently discussing buying the remaining 84 percent from Sonepar Electronique International.
     In mid-morning trading, Avnet (AVT) fell 2-3/16 to 45-5/8 while Marshall (MI) leapt 15-3-1/6 to 35-5/16. Back to top



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