Efforts to Acquire Micro D Dropped by Competitor

Micro D’s largest competitor, Massachusetts-based Microamerica, said Wednesday that it is no longer pursuing a possible acquisition of the Santa Ana personal computer products distributor.

“There are no ongoing discussions,” Microamerica spokeswoman Ann Mauriello said. “We kind of tested the waters, and there was not much interest.”

As previously reported, Microamerica approached Micro D in late December about the possibility of acquiring all the Santa Ana firm’s stock for $15 per share.

Micro D’s controlling shareholder, Nashville-based Ingram Industries, has offered to acquire the 41% of the firm that it does not already own for $12.50 per share, or about $37 million. A special committee of Micro D directors has rejected the Ingram offer as inadequate.

Microamerica’s overture to Micro D was disclosed last week in a Securities and Exchange Commission filing by Ingram. Microamerica, based in Marlborough, Mass., also had told Ingram that, alternatively, it might be interested in acquiring the Nashville firm, according to the filing.

Ingram, a privately held company, said it wasn’t interested in selling its interest in Micro D or being acquired by Microamerica.

Microamerica and Micro D are the nation’s two largest distributors of personal computers and related equipment. Ingram is a large conglomerate with interests in computer products distribution, marine transportation, oil and gas exploration, and insurance.