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...
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