Tech distributor Ingram Micro will be acquired by a unit of Chinese conglomerate HNA Group.
In a statement, Ingram said Tianjin Tianhai Investment Company will pay $38.90 a share, or $6 billion, for the company. Ingram plans to remain based in Irvine, Calif. as a subsidiary of Tianjin Tianhai.
HNA Group, which has aviation, tourism and logistics unit, owns Tianjin Tianhai.
For Ingram shareholders, the main takeaway is that they are getting a 39 percent premium over Ingram's closing price.