Arrow To Buy Rival Logix

Mellville, NY (AHN)- American computer products distributor Arrow Electronics is in talks with Groupe Open about buying European distributor Logix SA, a unit of Groupe Open.

Financial terms of the planned purchase were not disclosed and the final deal is subject to Logix's board approval and European Union clearance.

The Courbevoie, France-based Logix has operations in Belgium, Luxembourg, Morocco, Poland, the Netherlands, Israel, Denmark, Finland, Sweden and Norway.

Logix has an annual profit of approximately $735 million.