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VENTURA COUNTY ROUNDUP / BARBARA MURPHY

DDL Ends Merger Talks With Circuit Systems

September 10, 1996|Barbara Murphy

Officials with DDL Electronics of Newbury Park say they have ended merger discussions with Circuit Systems Inc. because the companies were unable to agree on terms.

Gregory L. Horton, president and chief executive officer of DDL, said the two companies had been in discussions regarding a possible stock-for-stock merger.

"DDL was unable to arrive at acceptable terms for the proposed transaction, and consequently, DDL's board of directors concluded . . . that a merger with Circuit Systems would not be in the best interest of DDL's stockholders at this time," Horton said.

DDL Electronics, a provider of electronic manufacturing services, said it still intends to pursue acquisitions in its field.

Circuit Systems, of Elk Grove, Ill., makes printed circuit boards.

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