TDK Corporation Announces Completion of Acquisition of CML OIS Licensee
Thursday, October 6th 2016
TDK Corporation (“TDK”, TSE: 6762, Representative Director and President: Shigenao Ishiguro) today announced that TDK had completed its acquisition of Hutchinson Technology Incorporated (“HTI”), a global supplier of critical precision component technologies. Under the terms of the merger agreement, each outstanding share of common stock of HTI was cancelled and converted into the right to receive $4.00 per share, without interest. HTI’s common stock (NASDAQ: HTCH) has ceased trading on the NASDAQ Global Select Market. Nixon Peabody LLP acted as legal advisor to TDK on the transaction and Janes Capital Partners acted as TDK’s financial advisor. HTI was represented on the transaction by its legal advisor, Faegre Baker Daniels LLP, and its financial advisor, BofA Merrill Lynch.