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.
The deal is expected to close in the second half of 2016. Ingram added that CEO Alain Monié and his management team will remain in place. Ingram's business is expected to continue as is.
Ingram Micro is a leading behind-the-scenes distributor for IT gear. The company supports various e-commerce players as well as resellers.