Arrow Electronics Acquires Nu Horizons Electronics for $7 per Share

Arrow Electronics, Inc. ARW today announced that it has agreed to acquire Nu Horizons Electronics in an all cash transaction for $7.00 per share. Nu Horizons is headquartered in Melville, N.Y., and has over 700 employees. Total sales were $671 million for the fiscal year ended February 28, 2010. The transaction is expected to be $.05-$.10 per share accretive to earnings in the first full year of operations. The acquisition has been approved by the Boards of Directors of both companies and is subject to the approval of Nu Horizons' shareholders as well as customary regulatory approvals. The transaction is expected to close during the fourth quarter of 2010.