Ingram Gets Option for More Micro D Shares
Ingram Distribution Group, the book and software distribution giant that already owns about 50% of Micro D Inc. of Santa Ana, said Wednesday that it has acquired an option to purchase another 10.4% of the personal computer products wholesaler.
Ingram said it had bought an option to buy all the shares owned by Micro D investor Frederick Adler and his affiliated funds. If the option is exercised before it expires Sept. 30, Ingram would hold a 60.7% stake in Micro D.
Under the terms of the option, Ingram can purchase the stock at prices ranging from $4.25 to $4.75.