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Latest News
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Stockholders of electronic components distributor Nu Horizons have voted to approve a merger agreement with Arrow Electronics. The all cash transaction is worth approximately $130million and is expected to close in early 2011.
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Arrow is buying Nu Horizons in an all cash deal which values the latter at more than $100million.
"This acquisition builds on our strategy to expand our global capabilities, especially in the fast growing Asia-Pacific region," said Arrow's president and ceo Michael Long, pictured.
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Nu Horizons has appointed Martin Kent as its president and chief executive officer. Kent takes over from Nu Horizons' founder Arthur Nadata, who becomes non executive chairman. Nadata said: "We are delighted to bring someone of Martin's experience and ability on as ceo to lead Nu Horizons. We believe that his prior industry experience … will be invaluable in running Nu Horizons."
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