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8 May – LAWFUEL – The Law News Network – Allen & Overy is advising US…

8 May – LAWFUEL – The Law News Network – Allen & Overy is advising US-based Avnet, Inc., the distributor of computer products and electronic components, on the European and Asian aspects of its acquisition of the semiconductor distributor, Memec Group Holdings Ltd, for $676 million, including the assumption of approximately $194 million of Memec’s net debt.

Under the terms of the agreement, Memec investors will receive a total of approximately 24 million shares of Avnet common stock plus approximately $64 million in cash.

The Allen & Overy team is being led by corporate partner Ian Stanley, working with corporate partner Vanessa Blackmore and associate Nick Stuart. Brussels-based partner Michel Struys is advising on antitrust aspects.

Commenting, Ian Stanley said: “We are very pleased to be assisting Avnet on this important stage in its development.”

Gibson, Dunn & Crutcher LLP is advising Avnet on US aspects.

For further information, please contact Jo Shepherd (jo.shepherd@allenovery.com) in London on +44 (0)20 7330 2195 or on +44 (0)7771 896 290 or Charlotte Hart (charlotte.hart@allenovery.com) on +44 (0) 20 7330 4871.

British MP George Galloway and his opponent the Daily Telegraph will leave no stone unturned to sort out what could be a spectacular libel case.