Premier Farnell PLC (PFL.L)
29 Jul 2016
July 28 The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:
* Notes announcements today by boards of Avnet, Inc and Premier Farnell
* Notes announcements by boards of Avnet, Inc. and Premier Farnell regarding cash offer for Premier Farnell
U.S. electric component distributor Avnet Inc agreed to buy Premier Farnell Plc for 691 million pounds ($911 million), topping an offer from Daetwyler Holding AG for the British maker of the Raspberry Pi mini-computer.
* Premier Farnell shares rise 17.8 pct (Adds Avnet comment, shares move)
* Has received an additional undertaking to accept offer from Premier Fund managers in respect of 7,004,171 ordinary shares of 5 pence each in capital of Premier Farnell
July 28 U.S. electric component distributor Avnet Inc agreed to buy Britain's Premier Farnell Plc for 691 million pounds ($910.7 million) in cash, becoming the second suitor for the mini-computer maker.
* Under terms of transaction, each premier farnell shareholder will be entitled to receive: for each premier farnell share: 185 pence in cash
* Statement regarding withdrawal of board recommendation of offer from Datwyler Technical Components UK Limited
* Offer of £1.85per share represents equity value of about £691 million,12.1% premium over previous offer of £1.65per share by Datwyler Technical Components UK