Tianjin Tianhai, a Chinese shipping group, will buy the technology distributor Ingram Micro for $6 billion in the latest mega-deal involving a Chinese company.

Tianjin Tianhai will pay $38.90 a share in the deal, which Ingram, based in Irvine, Calif., said would help it increase investment and expand its geographical reach. Ingram will suspend its quarterly dividend payment and its share repurchase program until the deal is complete.

The deal was made in the face of growing wariness in Washington over Chinese acquisitions of technology companies in the United States. On Tuesday, Fairchild Semiconductor International rejected a $2.5 billion bid from Chinese state-backed buyers because of fears that the deal would not get regulatory approval from the Committee on Foreign Investment in the United States, also known as Cfius.

Regulatory filings on Wednesday showed that Tianjin Tianhai would be required to pay Ingram a termination fee of $400 million under several circumstances, among them the dismantling of the deal by antitrust concerns or a review by Cfius.

Ingram will become a subsidiary of HNA Group, an air transport and logistics company based in Hainan, China. Alain Monié, Ingram’s chief executive, will remain in place, and the company said it did not expect any disruptions. Tianjin Tianhai is itself a subsidiary of HNA Group.

“We look forward to supporting Ingram Micro’s management team and strategies, including continued expansion into new geographies, while also offering their vendor and customer partners access to new and complementary offerings,” Adam Tan, the chief executive of HNA Group, said in a news release.

Mr. Tan added that Ingram would become the biggest revenue generator for HNA Group and would help it reach “business opportunities in emerging markets, which have higher growth rates and better profitability.”

Mr. Monié said that HNA Group’s logistics and its presence in China would support the growth of Ingram.

China International Capital Corporation and Bravia Capital acted as lead financial advisers to HNA Group, and Weil, Gotshal & Manges acted as legal counsel.

Morgan Stanley & Co. acted as financial adviser and Davis Polk & Wardwell acted as legal counsel to Ingram.

By: DocMemory
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