Ingram Micro slips on Platinum Equity's $358 mln share offload
BUZZ-Ingram Micro slips on Platinum Equity's $358 mln share offload ** IT products distributor Ingram Micro's INGM.N shares down 3.1% at $27.50 before the bell on Weds after pricing of secondary offering
** Irvine, California-based INGM late Tues announced ~13.1 mln shares offloaded by affiliate of Platinum Equity at $27.25 for about $357.7 mln
** Offering priced at 4% discount to stock's last sale
** INGM to repurchase 625,000 of offering shares from sole underwriter Goldman Sachs
** Beverly Hills-based investment firm Platinum Equity, founded by billionaire businessman Tom Gores, owns 71.4% of INGM's ~230 mln shares outstanding, per the prospectus
** Through Tues close, INGM stock up 33% YTD
** 7 of 15 analysts rate the stock "strong buy" or "buy", 8 "hold"; median PT $33, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))