Press Releases

For Immediate Release
Contact: Melinda M. Bascone
Director of Marketing
Carter Ledyard & Milburn LLP


-Deal Continues Growth of Avnet's Specialized Products Distribution Businesses-

NEW YORK, March 22, 2001 -- Wall Street law firm Carter, Ledyard & Milburn announced today that it is representing Avnet, Inc. (NYSE: AVT) in connection with its acquisition of Kent Electronics Corporation (NASDAQ: KNT), a leading specialty electronics distributor, in an agreed stock-for-stock merger transaction valued today at approximately $550 million.

Carter, Ledyard & Milburn attorneys involved in the transaction include corporate partners James E. Abbott, Richard G. Pierson, and Steven V. Burger, tax partners Jerome J. Cohen and Howard J. Barnet, ERISA counsel Patricia Matzye and associates Steven N. Brautigam, James D. Reardon, Renita M. Jolley, Anna Maria Vistica, Patrick Bowman, Peter Flägel and Pouya Lavian.

Phoenix, Arizona-based Avnet, Inc., a Fortune 500 company with annual sales exceeding $11.7 billion, is one of the world's largest distributors of semiconductors, interconnect, passive and electromechanical components, computer products and enterprise solutions and embedded systems from leading manufacturers. Serving customers in 63 countries, Avnet markets, inventories and adds value to these products and provides world-class supply-chain management and engineering services. Avnet's Web site is located at

Houston, Texas-based Kent Electronics is among the largest publicly traded specialty electronics distributors and network integrators. Kent Components provides distribution and value-added services with a focus on interconnect, passive and electromechanical components. Kent Datacomm provides complete end-to-end networking solutions, including design, consulting, source selection, product configuration and installation, and warranty and technical support. Kent's Web site is located at

Carter Ledyard & Milburn LLP (, established in 1854, has approximately 90 attorneys and has been headquartered on Wall Street since its founding. Carter Ledyard's general practice includes corporate, securities, mergers and acquisitions, broker-dealer, on-shore and off-shore hedge and other alternative investment funds, private equity, litigation, intellectual property, environmental, employment, media and technology, immigration, investment regulation, antitrust, art law, trusts and estates, maritime, ERISA, tax-exempt organizations, real estate, tax and bankruptcy. A significant part of the firm's practice involves representing overseas-based clients and their U.S. affiliates, financial institutions and other financial services providers, governmental entities and media and technology clients.

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