April 18, 2000 |
Sanmina Corp., a contract electronics maker, said it agreed to buy Hadco Corp., which makes electronic connection equipment, for $1.28 billion to sell more circuit boards and add production capacity. Sanmina said it will pay 1.4 of its shares for each Hadco share, valued at $71.31 a share based on Sanmina's closing price Monday. That's an 18% premium to the share price of Hadco, valuing the stock portion of the transaction at $992 million. Hadco had $288 million in debt as of Jan. 29.
July 17, 2001 |
Sanmina Corp., a contract manufacturer of telecommunications equipment and computers marketed by other companies, agreed to buy rival SCI Systems Inc. for about $4.5 billion in stock as competition intensifies for fewer sales. Sanmina will swap 1.36 shares for each SCI share, and will assume about $1.5 billion in SCI debt, the companies said Monday. Shares of San Jose-based Sanmina fell $2.38, or 11%, to $19.76 on Nasdaq. Huntsville, Ala.-based SCI rose $1.28, or 5.1%, to $26.
September 14, 2006 |
Sanmina-SCI Corp. said it probably would restate earnings for the last three years after an internal probe of options grants. Quarterly profit statements and news releases dating to Sept. 29, 2002, should no longer be relied upon, San Jose-based Sanmina said Wednesday in a regulatory filing. More than 125 companies have disclosed federal or internal investigations into whether they improperly backdated stock option grants.
May 26, 2000 |
Update on stock price decimalization: The Securities and Exchange Commission expects to let the New York Stock Exchange introduce dollars-and-cents prices that move in 1-cent increments, with the Nasdaq Stock Market starting in 5-cent increments, an SEC official said. The SEC preparations mean that, as the securities industry moves away from quoting stocks in fractions, investors initially will see different kinds of decimal prices on the two biggest markets.
October 13, 2006 |
Sanmina-SCI Corp. has severed ties with an executive accused of helping to manipulate the value of employee stock options in a nearly decade-long scheme now under investigation by a federal grand jury. Sanmina spokeswoman Paige Bombino declined to identify the executive, saying only that it wasn't the company's chief executive or chief financial officer.
January 9, 2002 |
Contract manufacturer Sanmina-SCI Corp. said it will take over production of some IBM desktop computers in the United States and Europe in a $5-billion pact IBM said will cut its costs in the extremely competitive personal computer industry. The move comes on the back of declining revenue in IBM's personal computer and printing division. San Jose-based Sanmina-SCI will produce the NetVista computers, IBM's main desktop line covering several different models sold primarily to large corporations.