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Avnet Inc Announces Intent To Acquire European Distributor MSC Investoren GMBH

Monday, 8 Jul 2013 02:00am EDT 

Avnet Inc announced that it has entered into an agreement to acquire MSC Investoren GmbH (MSC Group), a European distributor focused on electronic component distribution, embedded computing technology and display solutions. The agreement details a two-step approach whereby Avnet will acquire a majority interest in MSC Group after regulatory approval has been granted with the intent to acquire the remainder of the company within a short time frame. This transaction, which is subject to customary regulatory approvals, is expected to be immediately accretive to earnings and supports Avnet's long-term return on capital goal of 12.5%. 

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11:56am EDT