Avnet closes tender offer for Japanese electronic parts distributor Unidux

Avnet closes tender offer for Japan’s Unidux

PHOENIX — Electronic parts distributor Avnet Inc. said Tuesday it has closed its tender offer for Unidux Inc. through a subsidiary, Avnet EM Holdings Godo Kaisha.

Shareholders of Unidux who validly tendered their shares will receive 720 yen per share ($8.31), or a total of 12.9 billion yen ($148.9 million based on Monday’s exchange rate).

Avnet said about 94.6 percent of Unidux’s common shares were validly tendered, well above the 67 percent minimum threshold for the acquisition to take place. Avnet said it expects to buy the other 5.4 percent of Unidux by the end of the year, at which point Unidux will be delisted from the Tokyo Stock Exchange.

Established in 1972, Unidux distributes electronics components mainly to Japanese manufacturers. Avnet said it expects the deal to increase its earnings.

Shares of Avnet rose 49 cents, or 2 percent, to close at $25.24.