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General

Tech Data expects Avnet ops to boost adjusted EPS

Tuesday 28 February 2017 | 12:24 CET | News
Tech Data has completed its acquisition of Avnet's Technology Solutions business for USD 2.6 billion, in a move that has created a premier global end-to-end IT distributor. The amount includes USD 2.4 billion in cash and 2.78 million in Tech Data stock, or 7.3 percent of the total. Tech Data financed the cash portion of acquisition with USD 1.0 billion from its recent public debt offering, USD 1.0 billion worth of bank term loans, and the rest from cash on hand. The deal is expected to significantly add to Tech Data's adjusted earnings per share in the first full year. The company expects to

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Categories: General
Companies: Avnet / Tech Data
Countries: World
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