Pinnacle Data System (PNS) Enters Definitive Agreement to Be Acquired by Avnet (AVT)
- Top 10 News for 12/02 - 12/06: Facebook Snubbed Again; Bitcoin Mania!; New Deal for Apple?
- U.S. Adds Jobs at Higher Clip in November, Unemployment Rate Falls to 7%
- Bitcoin Crashes 21%
- Unusual 11 Mid-Day Movers 12/06: (MBLX) (VIFL) (BLDP) Higher; (RALY) (ULTA) (SEAC) Lower
- Sears Holdings (SHLD) Files to Spin-Off Lands' End Unit
Pinnacle Data Systems, Inc. (NYSE: PNS) announced today that it has entered into a definitive agreement to be acquired by Avnet, Inc. (NYSE: AVT) in an all cash merger for $2.40 per share, which equates to an equity value of approximately $22 million as of September 30, 2011. The acquisition has been approved by the Boards of Directors of both companies and is subject to the approval of PDSi's shareholders at a special meeting to be called by the Board of Directors of PDSi, details of which will be forthcoming at a later date, as well as customary closing conditions. The transaction is expected to close in 60 to 90 days.
You May Also Be Interested In
- UPDATE: Comcast (CMCSA) Looks to JPMorgan to Advise on Possible Time Warner Cable (TWC) Bid- Reuters
- Time Warner Cable (TWC) Names VP of Mergers and Acquisitions
- Ameris Bancorp (ABCB)/Prosperity Banking Deal to Be Completed On/Near Dec. 23rd
Create E-mail Alert Related CategoriesMergers and Acquisitions
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!