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U.S. antitrust body okays Flextronics' rival buyout

Posted: 19 Jul 2007 ?? ?Print Version ?Bookmark and Share

Keywords:buyout? U.S. antitrust? EMS?

The U.S. antitrust authorities announced July 17 their approval of Singapore-based Flextronics International's plan to acquire its rival Solectron Corp., according to a Reuters report.

The Federal Trade Commission said in a notice that officials have completed the investigation of the transaction without blocking it. According to the officials, the deal between the two EMS firms would create a company with more than $30 billion in annual revenue and a workforce of about 200,000 people.

The deal was priced at $3.6 billion in cash and stock when it was disclosed on June 4.

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