SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported)
December 20, 1996
ARROW ELECTRONICS, INC.
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(Exact name of registrant as specified in its charter)
New York 1-4482 11-1806155
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(State of (Commission file (IRS employer
Incorporation) number) identification
number)
25 Hub Drive, Melville, New York 11747
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(Address, including zip code, of principal executive office)
516-391-1300
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(Registrant's telephone no., including area code)
Item 5. Other Events.
On December 20, 1996 Arrow Electronics, Inc. agreed to
acquire the volume electronic component distribution
businesses of Premier Farnell plc.
Item 7. Financial Statements and Exhibits.
(c) Exhibit 99 (i) Press release dated December 20, 1996
issued by Arrow Electronics, Inc.
announcing the agreement to acquire the
volume electronic component distribution
businesses of Premier Farnell plc.
Exhibit 99 (I)
ARROW TO ACQUIRE VOLUME DISTRIBUTION
BUSINESS OF PREMIER FARNELL PLC
FOR IMMEDIATE RELEASE
MELVILLE, NEW YORK, December 20, 1996 -- Arrow Electronics, Inc.
(NYSE:ARW) announced that it has signed a definitive agreement to
acquire the volume electronic component distribution businesses
(FES) of Premier Farnell plc for approximately $300 million.
With annual sales of approximately $500 million and operations in
15 countries, the FES Group is one of Europe's leading
distributors of semiconductors, passive and electromechanical
components, and interconnect products to original equipment
manufacturers and other industrial customers.
"The FES businesses will strengthen our ability to serve our
customers throughout Europe," said Stephen P. Kaufman, Chairman
and Chief Executive Officer of Arrow, "and their strength in
passive, electromechanical, and connector products is a natural
complement to our own leading position in semiconductors. It is
our expectation that the acquisition will be additive to earnings
in 1997," he added.
The companies will also enter into a trading agreement under
which Arrow will become a preferred supplier to Premier Farnell's
remaining core catalogue business. Similarly, Arrow will be able
to source certain of its product requirements from Premier
Farnell.
The purchase agreement has been approved by the Boards of
Directors of both companies and is subject to customary closing
conditions, principal among which is the obtaining of certain
regulatory approvals. It is expected that the transaction will
be completed before the end of March.
Arrow is the world's largest distributor of electronic components
and computer products to industrial and commercial customers.
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CONTACT: Robert E. Klatell
Executive Vice President
516-391-1300
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
ARROW ELECTRONICS, INC.
By: s/Robert E. Klatell
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Name: Robert E. Klatell
Title: Executive Vice President
Dated: December 31, 1996