Go-ahead for multi-million electronics business takeover

SHAREHOLDERS at Premier Farnell have agreed to allow the £691m takeover by US firm Avnet to go ahead.

The Leeds-based electronics business, known as the makers of the Raspberry-Pi coding training device, chose the US business over rival suitor Datwyler.

Avnet agreed to pay 185p per share for the Leeds-based firm after beating an earlier offer of 165p per share from Swiss firm Datwyler.

It will be acquired by Bidco, an indirect wholly-owned subsidiary of Avnet.

99.9% (well over the required 75%) of Premier Farnell shareholders agreed to the scheme and committed to carrying out the scheme “into full effect”.