Phoenix - Avnet, Inc. (NYSE: AVT), announced today that it has completed its acquisition of Premier Farnell plc (“Premier Farnell”) in an all cash merger for £1.85 per share, which equates to an equity value of approximately £691 million. The acquisition was approved by Premier Farnell shareholders representing 99.9% of the votes cast and has received all regulatory approvals. The transaction is expected to be immediately accretive to earnings and, once the integration is complete, expects to generate annual synergies of approximately $70 million to $80 million.
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