Global IT distributor Ingram Micro has been snapped up by the Chinese investment firm Tianjin Tianhai for $6bn.
Shareholders will receive $38.90 per share in an all-cash transaction.
The deal, termed a 'merger', will see Ingram Micro operate as a subsidiary of HNA Group, a Hainan-based Fortune Global 500 enterprise organisation that specialises in aviation, tourism and logistics.
Ingram Micro is expected to remain headquartered in Irvine, California, and its executive management team will remain in place, with Alain Monié continuing to lead as CEO.
Adam Tan, Vice Chairman of the Board of Directors and CEO of HNA Group, said: "After the transaction, Ingram Micro would become the largest member enterprise of HNA Group in terms of revenue, and facilitate the internationalisation process of the group.
"With the help of Ingram Micro, HNA Group would have access to business opportunities in emerging markets, which have higher growth rates and better profitability.
"Furthermore, the addition of Ingram Micro would help the logistics sector of HNA Group transform from a logistics operator to a supply chain operator, and provide one-stop services while improving efficiencies."
Monié added: "As a part of HNA Group we will have the ability to accelerate strategic investment, as we continue to capitalise on the constant evolution of technology and emerging trends by adding expertise, capabilities and geographic reach.
"Additionally, Ingram Micro will now be part of a larger organisation that has complementary logistics capabilities and a strong presence in China that can further support the growth and profitability objectives of our vendor and customer partners."
In conjunction with this announcement, Ingram Micro is suspending its quarterly dividend payment and its share repurchase programme prior to the closing of the transaction.
All Ingram Micro lines of business and all regional and country operations are expected to continue unaffected.
The transaction is expected to close in the second half of 2016 and represents a premium of approximately 39% over the average closing share price of Ingram Micro for the 30 trading days ended February 16, 2016.