By Laura Lutz
Des Moines, Sept. 21 - American Technical Ceramics Corp. announced that its stockholders approved its planned acquisition by AVX Corp. for $24.75 per share in cash.
The deal is expected to settle in the final week of September.
The stockholders approved the acquisition at a special meeting on Friday.
As previously reported, the transaction is valued at about $231 million.
Thomas Weisel Partners LLC and Mintz Levin Cohn Ferris Glovsky and Popeo advised American Technical Ceramics. The Huntington Station, N.Y., company manufactures and markets electronic components, including ceramic multilayer capacitors and custom thin film circuits.
AVX manufactures passive electronic components and interconnect products. The company is located in Myrtle Beach, S.C.
| Acquirer: | AVX Corp.
|
| Target: | American Technical Ceramics Corp.
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| Price per share: | $24.75
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| Announcement date: | June 18
|
| Expected closing: | Week ending Sept. 28
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| Stock price for target: | AMEX: AMK: $16.81 on June 15; $24.72 on Sept. 20
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