Davis Polk & Wardwell LLP advised J.P. Morgan Securities Inc. and HSBC Securities (USA) Inc. as dealer managers in connection with a cash tender offer by Arrow Electronics, Inc. for up to $200 million aggregate principal amount of its outstanding 9.15% senior notes due 2010.

Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions.

The Davis Polk corporate team included partner Alan Dean and associates Kevin Williams and Boyoon Choi (not yet admitted). Partner William H. Weigel and associate Kent Heggerud of the London office provided tax advice. Except as noted above, all members of the Davis Polk team are based in the New York office.