Ingram Micro eyed rival distributor Dicker Data as a possible acquisition target, CRN has learnt.
A source familiar with discussions inside Ingram Micro told CRN the distribution giant yesterday formally shelved plans to make a play for Dicker, however. The source declined to reveal why.
The revelation follows a sharp rise in Dicker Data’s share price which culminated yesterday in the stock reaching a record high on unusually heavy volumes.
The stock rallied to $0.895 before easing down to $0.80 at yesterday’s close, by which time more than 210,000 shares had changed hands.
Interest in Dicker Data continued this morning with more than 140,000 shares traded by midday. Dicker Data is traditionally a very thinly traded stock, with recent volumes five to 10 times higher than typical.
Dicker Data did not respond to CRN’s request for comment about the share price and buyout speculation talks by the time of publication.
A spokesperson for Ingram Micro Australia said the company would not comment on "rumour".
More to come.
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Issue: 347 | March 2016