HNA spreads its wings in the US

Airline group to buy Ingram Micro at price of $38.9 per share, valuing it at $6 billion

HNA Group, the fourth-largest airline group in China, announced on Thursday its purchase of Ingram Micro Inc, a US-based electronics distributor with an equity value of around $6 billion.

HNA is making the acquisition through its subsidiary Tianjin Tianhai Investment Co Ltd at a price of $38.9 per share in an all-cash transaction, which is a premium of nearly 39 percent over Ingram's average closing share price for the 30 trading days ended Tuesday.