Merix holders to exchange convertibles for Viasystems shares, cash

By Lisa Kerner

Charlotte, N.C., Oct. 6 - Merix Corp. said approximately 98% of the holders of its $70 million convertible senior subordinated notes due 2013 have agreed to exchange their notes for approximately 1.4 million newly issued Viasystems Group, Inc. shares plus a total cash payment of approximately $35 million.

The exchange agreement was made in connection with the proposed merger of Merix and Viasystems announced on Tuesday.

Merix shareholders will receive 0.11 shares of newly issued Viasystems shares for each Merix share held under the merger agreement, according to a joint news release from the companies.

Both companies produce multi-layer, rigid printed circuit boards. Merix is located in Beaverton, Ore., and Viasystems is located in St. Louis.

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