IM Ingram Micro Inc. (delisted)

Technology and supply chain company Ingram Micro Inc. will be acquired for about $6 billion by an entity that is part of China's HNA Group.

Tianjin Tianhai Investment Co. will pay $38.90 per share for Ingram, representing a premium of about 39% over the average closing share price of Ingram Micro for the 30 trading days ended Tuesday. In after-hours trading, Ingram shares rose 24.6% to $36.94.

The boards of both companies have approved the transaction.

Following the close of the transaction, which is expected in the second half of the year, Ingram Micro will operate as a unit of Tianjin Tianhai, consolidated under HNA Group, the largest stockholder of Tianjin Tianhai.

Along with the deal, Ingram Micro is suspending its quarterly dividend payment and its share-repurchase program.

Ingram's management team will stay in place, including Chief Executive Alain Monié , and the company will remain in Irvine, Calif.

Many technology companies use Ingram to run their supply chains. Ingram, a longtime wholesaler of computer components and peripherals, launched a third-party logistics unit in 2000.

The company has completed many acquisitions over the years, like a deal for e-commerce fulfillment company Shipwire. In 2007, it launched a cloud services portfolio.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

February 17, 2016 18:05 ET (23:05 GMT)

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