Wednesday, December 20, 2006

Avnet Gets Regulatory Approval For Access Distribution Acquisition

Phoenix, Arizona-based Avnet said today that it has received regulatory approvals for its acquisition of Access Distribution. Avnet said that it received clearance from the US Federal Trade Commission, the Canadian Anti-Competition Bureau and the Commission of the European Communities for the approval. Access Distribution is a unit of General Electric. The deal, which was announced in November, is worth $412.5M.