The world's largest technology products distributor agreed to buy BrightPoint (CELL) for about $650 mil in cash, or $9 a share. The deal is expected to close before year's end. "We see no significant regulatory obstacles and expect shareholder approval," said an analyst at Canaccord Genuity in a report. Ingram (IM) said it expects the acquisition to add 18 cents per share in profit in '13 and 35 cents in '14, excluding one-time charges and integration costs. BrightPoint shares rose 66.5% to 9.01.
The city of Detroit may be facing a deepening financial crisis but that hasn't stopped four trustees of its public pension funds from spending $22,000 of retirement system funds to attend a conference ...
