Ingram Micro surges on sale to Chinese conglomerate

February 17, 2016 9:48 PM

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Ingram Micro Inc. , an information-technology company based in Irvine, Calif., with a market capitalization of $4.4 billion, will be sold to China’s Tianjin Tianhai Investment Co. for $38.90 a share, the company said late Wednesday.

Once the $6 billion deal is finalized, Ingram Micro will operate as a subsidiary of Tianjin Tianhai and become a part of the HNA Group but maintain its headquarters in Irvine. The company’s executive management team will also be retained with Alain Monié continuing as chief executive. Shares of Ingr...

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