Stonington Offers to Buy Stake in Merisel

Merisel Inc. said it has received an offer from Stonington Partners Inc. to invest $152 million for a 70% stake as part of a broader restructuring plan for the computer and software distributor. Merisel said the offer is superior to its own reorganization plan, announced three months ago, because current shareholders would end up with 30% of the company instead of 20%. New York-based Stonington, which oversees a $1-billion investment fund, has also agreed to extend $50 million in financing to Merisel. The El Segundo-based wholesale distributor of computer products said it will use the proceeds of the investment to pay off about $150 million in debt owed by its Merisel Americas Inc. operating unit. Merisel shares rose 94 cents to close at $2.97 on Nasdaq.