Flextronics to acquire Solectron

RTTNews.com: Flextronics International Ltd. said it agreed to acquire Solectron Corp., a manufacturer of self-service and other vertical applications, for about $3.6 billion in cash and stock, based on the closing price of Flextronics ordinary shares on June 1, 2007. The combination is expected to create leading global electronics manufacturing services company with more than $30 billion in annual revenue. As per the terms, for each Solectron share, Flextronics will pay either 0.3450 shares of Flextronics or cash of $3.89 per share. The terms of the deal specify that no more than 70 percent and no less than 50 percent of Solectron shares will be converted into Flextronics shares.

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