LONDON The board of Eurodis Electron have admitted that it is in ongoing merger discussions, including the provision of due diligence information, with another electronics distributor.
In statement to the London Stock Exchange it said “there can be no certainty that an offer will be made nor as to the terms on which any offer might be made”.
City speculation puts Abacus as top of the list of potential partners while Acal is another potential suitor. Both companies have investment from Unicorn Asset management which also owns 12.9% of Eurodis and is said to be 'a long-term advocate of consolidation'.
In March Eurodis Electron announced that its pan European agreement to distribute Philips products, which represented approximately Euro44million of the Group's annual sales, would end in January 2006.