Arrow Electronics Begins All-Cash Tender Offer To Buy Data Modul AG

(RTTNews) - Centennial, Colorado-based Arrow Electronics Inc (ARW) said Wednesday it is initiating an all-cash tender offer, through its German subsidiary Arrow CEHM, to buy the shares of Data Modul AG.

The purchase price of 27.50 euros per share represents a premium of about 35 percent on the weighted average stock exchange price of the Data Modul AG-shares during the prior three months. The purchase price, assuming all shares are tendered, would be about 94 million euros.

In conjunction with this tender offer, Arrow said its German subisidiary has entered into agreements with several shareholders of the company, including the Hecktor family and Varitronix Investment Limited, through which Arrow CEHM has secured the acquisition of about 37% of the nominal share capital of the company. The management board and supervisory board of Data Modul AG support the transaction.