US reseller Tech Data is tipped to acquire UK distributor Azlan when the company refloats itself on the London stock market in the next two weeks.
Sources close to Azlan said last week: ?While we have had problems with stock, with investigations which are continuing, the fact is that when they are resolved and we refloat, Azlan will continue to be undervalued.?
This could make the company very attractive to the US giant, which has stated that it wants to make European acquisitions (see previous stories). Stock, buildings and projects still in progress amount to far more than a #2 per share refloat, the source said. ?Tech Data is on record as saying it wants to acquire a major UK company and it has already made investments in France and Germany.?
No-one at Azlan was officially prepared to comment on the possibility today.
Last week, Mark Mulford, managing director of distributor Datrontech - also the subject of recent takeover rumours - said his company was not up for sale but that if any large channel partner was ripe for takeover it was Azlan.
Over the past few weeks, a large number of Azlan staff have departed. following auditor Price Waterhouse's reluctance to show itself happy with the company's accounts.
Initial reports that a new computer system was at fault were discounted. Instead, the accounting discrepancies reportedly revolve around excess stock, according to the same source.
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