meadville-sells-circuit-board-business-to-ttm-technologies

Meadville sells circuit board business to TTM Technologies

Hong Kong-listed Meadville sells its printed circuit board business to TTM Technologies and its laminates business to its controlling shareholder, netting shareholders $880 million.

Hong Kong-based Meadville Holdings has sold its printed circuit board PCB business to California-based TTM Technologies for $521 million in cash and stock. Meadville also sold its laminates business to its largest shareholder, Tang Hsiang Chien, for $359 million.

TTM will pay $114 million in cash and will issue 36.3 million new TTM shares. Based on the closing price of TTM on Nasdaq on Friday of $11.21, the shares have a total value of $407 million. TTM has traded in a narrow range over the last 30 days and the average closing price over the period is around $11.22. Over a longer period of 180 trading days, the average price is lower at...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222