China’s Suzhou Dongshan Precision Manufacturing Co. has reached a deal to acquire US-based Multi-Fineline Electronix Inc. (MFE) for US$610 million.
The Chinese firm will pay US$23.95 a share, a 46 percent premium over MFE’s Thursday’s closing price, according to the Wall Street Journal.
Multi-Fineline Electronix produces flexible printed circuits and assemblies. It has manufacturing plants in Suzhou.
The company plans to keep its main office in Irvine, California, and said its management team is expected to remain with the company in their same capacities, the report noted.
Suzhou-based Dongshan Precision is involved in manufacture of precision sheet-metal components.
The MFE deal is expected to close in the third quarter after the companies obtain approvals from stockholders and regulators.
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