Flextronics to acquire Solectron |
| MarketWatch - Jun 4, 2007 |
Flextronics International Ltd. on Monday said it would buy Solectron Corp. in a $3.6 billion deal that combines two of the world's largest contract manufacturers of electronic goods. Under the agreement, shareholders of Solectron would receive a 20% premium based on the company's closing price Friday of $3.37.
In premarket trading, Solectron stock jumped 15% to $3.88. Shares of Flextronics, which closed last Friday at $11.70, were little changed.
Flextronics and Solectron both manufacture parts, products and systems for such well-known technology companies as IBM, Dell Inc., Cisco Systems Inc., Hewlett-Packard and Microsoft Corp.
Flextronics tallied $18.8 billion in sales last year, while Solectron generated $10.6 billion in revenue.
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- Posted: 2007-06-04 10:32:53
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