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Avnet, Inc.
AVT announced today that, through its wholly-owned
subsidiary, Memec Group Limited, it has closed the tender offer bid for
Internix, Inc. (TSE: 2657). Approximately 92% percent of the outstanding
shares of Internix's common stock on a fully diluted basis were validly
tendered and accepted, well above the 67 percent threshold set out in the
offer document as a condition for Avnet to accept the tendered shares.
Shareholders of Internix who validly tendered their shares will receive ¥655
per share, which equates to an aggregate equity value of ¥6.4 billion
(approximately $80 million). Avnet expects to complete the acquisition of the
remaining outstanding shares and the delisting of Internix from the Tokyo
Stock Exchange before the end of calendar year 2012.
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