Acquirer: Tianjin Tianhai Investment Company, Ltd. (China)/HNA Group (China)
Acquired: Ingram Micro, Inc. (U.S.)
Value: US$6 billion
Industry: Logistic services and Distribution of IT solutions
On November 1, 2016, U.S. based Ingram Micro, Inc., announced that its pending US$6 billion acquisition by Tianjin Tianhai Investment Company Ltd. has been cleared by the Committee on Foreign Investment in the United States (CFIUS). (See Ingram Micro, Form 8-K, Nov. 1, 2016, SEC Filing; Ingram Micro Press Release, Ingram Micro and Tianjin Tianhai Receive Clearance From Committee on Foreign Investment in the United States to Proceed With Proposed Acquisition, Nov. 1, 2016.) According to the Nov. 1, 2016 SEC filing and the press release, the merger remains subject to approval from China’s State Administration of Foreign Exchange. The parties expect the transaction to close in 2016, whereby Ingram Micro will become a part of HNA Group, the largest stockholder of Tianjin Tianhai. (See Ingram Micro Press Release.)
For additional detail on this particular filing, see our previous blog post here.