EU Approves Flextronics Bid for US Rival
European Union antitrust regulators on Wednesday approved the acquisition of U.S.-based Solectron Corp. by Singapore's Flextronics International Ltd., saying the $3.6 billion deal did not pose any competition concerns.
The EU said the deal, announced in June, would not significantly impede effective competition in the 27-nation bloc.
It added that its investigation into the takeover found that the combined share of Flextronics and Solectron on the electronics market would be limited. It added the new joint firm would continue to face 'many vigorous competitors' worldwide amid fierce competition that is driving down prices. Read more
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#1 Aug 29, 2007
Some may be interested to know that one of Flextronics' directors used to be a director and executive at Solectron, which is probably significant in this deal. Newsvisual has a pretty interesting article and graphic up right now that illustrates some of the connections between the companies: http://www.newsvisual.com/newsvisual/2007/08/...
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