June 4, 2002
* General Motors Corp. said it will buy a $30-million stake in a Chinese minivan and mini-truck maker, moving into the largest sector of China's auto market. * Flextronics International Ltd., the second-largest maker of electronics for brand-name companies, cut its fiscal first-quarter profit forecast to 5 cents to 8 cents a share on revenue of about $3 billion from an April forecast of 10 cents to 13 cents on revenue of $3.3 billion.
November 20, 1996 |
Flextronics International Ltd. agreed to buy a main production unit of Ericsson's business networks division in Sweden for between $100 million and $150 million. The San Jose-based electronics equipment maker said the acquisition will double its revenue to $1 billion next year. Its shares rose $5.25 to $33 on Nasdaq. The acquisition will be paid for initially through bank financing, followed by some equity financing, said Michael Marks, Flextronics chief executive.
June 5, 2007 |
Flextronics International Ltd. said it would buy rival Solectron Corp. for $3.6 billion in cash and stock to cut costs and expand its product line. The merger between the biggest U.S. companies in the contract electronics industry would create a company with more than $30 billion in annual revenue and a workforce of about 200,000 people, they said. Under the deal, each Solectron share will be swapped for either 0.3450 Flextronics share or $3.89 cash.
July 3, 2001 |
Motorola Inc. and Flextronics International Ltd., the second-biggest contract electronics manufacturer, said they're changing the terms of a $30-billion, five-year agreement because of weaker-than-expected demand. The companies said they're removing the volume incentives and five-year terms of the deal under which Flextronics makes mobile phones, pagers and other devices for Motorola. They didn't specify new terms.
November 23, 1999 |
Flextronics International Ltd., which makes and assembles circuit boards and cell phones for other companies, agreed to buy rival DII Group Inc. for about $2.4 billion in stock to boost production and add customers. San Jose-based Flextronics will swap 0.805 share for each share of DII Group, valuing each DII share at $65.41, 26% more than Friday's close. Flextronics will get DII's 12,000 employees and 22 plants worldwide, making it the world's No.
October 2, 2003 |
Flextronics International Ltd. and Beckman Coulter Inc. are in talks to possibly settle a contract dispute that resulted in a stunning $934-million award against Flextronics by an Orange County jury last week, a lawyer for Beckman Coulter said Wednesday. But the lawyer, Daniel Callahan in Santa Ana, cautioned that the companies remained far apart in their negotiations. "The only offer we've received from Flextronics thus far is $10 million," a sum that is "woefully too low," Callahan said.