Avnet, Inc. Closes Tender Offer for Unidux, Inc.
Acquisition of Electronic Components Distributor Significantly Expands Avnet’s Presence in Japan
July 19, 2010 03:33 PM Eastern Daylight Time
PHOENIX--(EON: Enhanced Online News)--Avnet, Inc. (NYSE: AVT) announced today that, through its wholly-
owned subsidiary, Avnet EM Holdings (Japan) Godo Kaisha, it has closed the tender offer bid for Unidux, Inc.
(TSE: 9897). About 94.6 percent of the shares of Unidux’s common stock were validly tendered, well above the 67
percent threshold set out in the offer document as a condition for Avnet to accept the tendered shares. Shareholders
of Unidux who validly tendered their shares will receive ¥720 per share, which equates to an aggregate equity value
of ¥12.9 billion (approximately $146 million). Avnet expects to complete the acquisition of the other 5.4 percent of
the outstanding shares and the delisting of Unidux from the Tokyo Stock Exchange before the end of calendar 2010.
Established in 1972, Unidux is an electronics components distributor primarily serving Japanese original equipment
manufacturers (OEM). This acquisition is expected to be immediately accretive to earnings and achieve Avnet’s
return on capital goal of 12.5% within three years.
“Completing this acquisition with the support of such a high percentage of shareholders represents an endorsement of
Avnet’s strategy to expand through acquisitions in what represents a large and relatively unconsolidated market for
electronic components,” said Tom McCartney, president and representative director, Avnet Electronics Marketing
Holdings Japan. “The addition of Unidux to Avnet Electronics Marketing Japan significantly increases our scale and
scope by tripling our business in the region. The addition of their relationships with prominent Japanese customers
and suppliers strengthens our position in this strategic market.”
With operations in Japan, Hong Kong, the People’s Republic of China and ASEAN countries, Unidux distributes
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