Dongshan precision intends to purchase 4 billion U.S. companies have been approved by the CFIUS case

Dongshan precision yesterday evening announcement, the company intends to non-public offering to raise funds for the acquisition of stock trading in the U.S. NASDAQ listed company MFLX100% shares, has been adopted by the national development and Reform Commission, the Ministry of Commerce, the Jiangsu Provincial Department of Commerce, the China Securities Regulatory Commission, the Foreign Investment Committee (CFIUS), the U.S. Federal Trade Commission filing or approval. In addition, the need to obtain MFLX shareholders' meeting, the State Administration of foreign exchange and other relevant departments for the record or approval.

PHILPS announced in January this year announced by the U.S. because of regulatory opposition, the company has canceled the sale of a controlling stake in PHILPS lighting to Chinese (Capital Scale GO consortium jointly launched the Jinsha River venture capital investment fund and oak independent) plan. PHILPS said at the time that the sale of 80.1% stake in PHILPS lighting program attracted the attention of the U.S. Foreign Investment Committee, the Commission will not approve this particular transaction. "

Dongshan precision in February 22nd evening issued a non-public offering plan, the company intends to not less than 15.93 yuan / share issue price is not more than 282 million shares, the total funds raised not more than 4 billion 500 million yuan for the acquisition of NASDAQ listed companies in the United States MFLX 100% stake in the company, as well as to supplement working capital.

According to the plan, Dongshan precision will be through a wholly owned subsidiary of Hongkong Dongshan, the establishment of a wholly owned subsidiary of DragonElectronixHoldingsInc. in Delaware investments ("U.S. Holdings"), and through the United States Delaware investment holding company to set up a wholly owned subsidiary of DragonElectronixMergerSubInc. ("consolidated subsidiaries).

Consolidated subsidiaries and MFLX will be fully satisfied with the delivery conditions after the merger of the company in accordance with the relevant laws of delaware.

MFLX will be merged as a surviving company, and become a wholly owned subsidiary of Dongshan precision. After the merger is completed, MFLX's common stock will be delisted from nasdaq.

According to the merger agreement, the merger of MFLX per share price of $23.95, compared with last year the company stock price of $19.59 / share premium of 22%, the total price of the transaction is expected to be approximately $610 million (about 3 billion 984 million yuan).

Dongshan precision intends to invest 3 billion 984 million of the amount raised for the acquisition, but due to raise funds in place in time and the actual payment of the acquisition of funds is not the same time, the company intends to raise funds through self financing.

It is understood that the MFLX company is mainly engaged in the flexible circuit board (FPC) and a flexible circuit assembly (FPCA) design, production and sales, is committed to providing customers with mobile electronic devices can meet the overall design requirements of the complex solution. The company was founded in October 1984 in the United States, California, in the state of Delaware in 2004 and re listed on nasdaq.

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