Corporate giant TDK nears completion of acquisition of CML OIS licensee
Wednesday, September 28th 2016
With a workforce exceeding ninety thousand and facilities spanning thirty countries, TDK Corporation is a major supplier of key, high value smartphone components, including camera actuators, to the leading smartphone brands. TDK also supplies products into the automotive, industrial equipment and energy sectors, and is planning new businesses in wearables and healthcare.
In November 2015, TDK announced the planned acquisition of CML SMA OIS licensee Hutchinson Technology Incorporated.
Hutchinson today announced that the U.S. Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended with respect to the proposed merger of HTI with and into a wholly owned subsidiary of TDK Corporation.
The early termination of the waiting period under the HSR Act satisfies one of the remaining conditions to the closing of the pending merger. The merger is currently expected to close no later than October 5, 2016, and remains subject to other customary closing conditions set forth in the merger agreement.
Details of Hutchinson’s SMA OIS products manufactured under license from CML may be found here.