U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
================================================================================
1. Name and Address of Reporting Person
Avnet, Inc.
- --------------------------------------------------------------------------------
(Last) (First) (Middle)
2211 South 47th Street
- --------------------------------------------------------------------------------
(Street)
Phoenix Arizona 85034
- --------------------------------------------------------------------------------
(City) (State) (Zip)
================================================================================
2. Date of Event Requiring Statement (Month/Day/Year)
March 2, 2000
================================================================================
3. IRS Identification Number of Reporting Person (if an entity)
11-1890605
================================================================================
4. Issuer Name and Ticker or Trading Symbol
Savoir Technology Group, Inc. (Symbol: SVTG)
================================================================================
5. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
================================================================================
6. If Amendment, Date of Original (Month/Day/Year)
================================================================================
7. Individual or Joint/Group Filing (Check applicable line)
[ X ] Form Filed by One Reporting Person
[ ] Form Filed by More than One Reporting Person
<PAGE>
================================================================================
Table I -- Non-Derivative Securities Beneficially Owned
================================================================================
<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
<PAGE>
FORM 3 (Continued)
<TABLE>
Table II -- Derivative Securities Beneficially Owned (e.g., puts,
calls, warrants, options, convertible securities)
================================================================================
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Option (contingent (see (see Common Stock 2,067,536 generally D
right to buy)(see attached) attached) $7.85 per
attached) share (see
attached)
- ------------------------------------------------------------------------------------------------------------------------------------
Option (contingent (see (see Common Stock 2,023,435 generally D
right to buy)(see attached) attached) $6.83 per
attached) share (see
attached)
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
</TABLE>
Explanation of Responses:
(See attached) (See attached)
- ---------------------------------------------- ----------------------
Signature of Reporting Person Date
<PAGE>
FORM 3 CONTINUATION SHEET
EXPLANATION OF RESPONSE
This Initial Statement of Beneficial Ownership on Form 3 (this "Form") is
filed by Avnet, Inc., a New York corporation ("Avnet"). On March 2, 2000, Avnet,
Tactful Acquisition Corp., a wholly owned subsidiary of Avnet ("Merger Sub"),
and Savoir Technology Group, Inc. ("Savoir") entered into an Agreement and Plan
of Merger (the "Merger Agreement") providing for, among other things, the merger
of Merger Sub with and into Savoir (the "Merger"). In connection with the Merger
Agreement, Avnet and Savoir entered into an Option Agreement (the "Savoir Option
Agreement"), dated as of March 2, 2000, under which Savoir granted Avnet an
option (the "Savoir Option") to purchase up to 2,023,435 shares of Common Stock,
par value $.01 per share, of Savoir ("Savoir Common Stock"), representing 15.0%
of the issued and outstanding Savoir Common Stock, at an exercise price of $6.83
per share, subject to certain customary anti-dilution adjustments. Also in
connection with the Merger Agreement, Avnet entered into an Inducement Agreement
(the "Inducement Agreement"), dated as of March 2, 2000, with P. Scott Munro,
Carlton Joseph Mertens II, Dennis Polk, Bob O'Reilly, Larry Smart, Angelo
Guadagno, Bill Sickler, Mike Gunnels and Guy Lammle (collectively, the "Savoir
Stockholders") under which each of the Savoir Stockholders granted Avnet an
option (collectively, the "Stockholders' Option") to purchase such Savoir
Stockholder's shares (collectively, 2,067,536 shares) of Savoir Common Stock at
an exercise price of $7.85 per share, subject to certain customary anti-dilution
adjustments.
Except in certain limited circumstances, Avnet may not exercise the
Stockholders Option until Savoir or its stockholders shall have received in
writing, or there shall have been published, a competing proposal to acquire 15%
or more of the equity securities or assets of Savoir, and Avnet may not exercise
the Savoir Option until a termination of the Merger Agreement pursuant to
certain of the termination provisions contained therein.
Prior to the Savoir Option and the Stockholders' Options becoming
exercisable and being exercised, Avnet expressly disclaims beneficial ownership
of the shares of Savoir Common Stock which are purchasable by Avnet thereunder.
Neither the filing of this Form nor any of its contents shall be deemed to
constitute an admission that Avnet is the beneficial owner of the shares of
Savoir Common Stock subject to the Savoir Option and the Stockholders' Options
for purposes of Section 13(d) or 16 of the Securities Exchange Act of 1934, as
amended, or for any other purpose and such beneficial ownership is expressly
disclaimed.
The foregoing summaries of the Savoir Option Agreement and the Inducement
Agreement is qualified in their entirety by reference to such agreements, which
have been filed as exhibits to Avnet's Schedule 13D filed with respect to Savoir
on the date hereof.
<PAGE>
SIGNATURES OF REPORTING PERSONS
Dated: March 13, 2000.
AVNET, INC.
By:/s/David R. Birk
----------------
Name: David R. Birk
Title: Authorized Signatory
