EU competition regulators on Friday cleared the acquisition of U.S. technology distributor BrightPoint Inc by its bigger rival Ingram Micro . The acquisition affected the markets in the wholesale distribution of telecommunications and IT products, such as laptops and tablets, in a number of member states but would not raise competition concerns, the European Commission, which acts as the 27-member bloc's competition watchdog, said."The merged entity will continue to face sufficient competitive constraints, including on narrow market segments," the Commission said in a statement.Ingram Micro said in July that it would purchase BrightPoint Inc for about $650 million in cash, its biggest deal ever.
Brightpoint, Inc.(BrightPoint) is engaged in providing device lifecycle services to the wireless industry. Shares of CELL remained unchanged at $8.98. In the past year, the shares have traded as low as $4.50 and as high as $12.05. On average, 636745 shares of CELL exchange hands on a given day and today's volume is recorded at 0.
Ingram Micro Inc. (Ingram Micro) is a global information technology (IT) wholesale distributor, providing sales, marketing and logistics services for the IT industry worldwide. Shares of IM remained unchanged at $14.87. In the past year, the shares have traded as low as $14.42 and as high as $19.80. On average, 1160040 shares of IM exchange hands on a given day and today's volume is recorded at 0.
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