Insight completes Action takeover
About time too
In the end, it happened quickly: Insight Enterprises yesterday completed the takeover of Action Computer Supplies two years after it first agreed to buy the direct mail reseller.
As of last night, Insight has received valid acceptances of 84 per cent of Action's share capital; the offer to buy the company's £27m is now wholly unconditional. not that the outcome was in any doubt: directors and shareholders accounting for 42.5 per cent of the company had already committed to Insight when the bid was announced on September 3.
Insight already operates in the UK; with Action under its wing, the company becomes the largest direct mail reseller in the UK. The reseller giant also has a sub in Germany.
Insight first approached Action in 1999. An agreed bid collapsed in May 2000, following a deterioration in Action's trading performance. The wait has saved Insight $150m. ®