Ingram Ups Stake in Singapore Distributor

Ingram Micro Inc., the world’s biggest distributor of personal computers, said that it bought 17.4% more of Electronic Resources Ltd. and is offering to buy the rest of the Singapore seller of electronic components. Santa Ana-based Ingram said that it paid $48.5 million for 41.1 million Electronic Resources shares from the company’s management. It also has an option to buy 3 million more shares from existing shareholders. Ingram bought 21% of Electronic Resources in November 1997, when it purchased 50 million shares for about $63 million. On Thursday, Ingram shares fell 19 cents to close at $35.38 on the NYSE.(Bloomberg News)