Flextronics to Acquire Microcell
Flextronics (FLEX) agreed to acquire Microcell Group, a manufacturer of wireless handset products, for $80 million.
Microcell's operations include centers in Finland and Denmark, administrative offices in Switzerland and the U.S., and a manufacturing operation through a joint venture in Nanjing, China.
Flextronics also said it will assume $120 million of Microcell's liabilities.
Flextronics said the acquisition won't have a significant impact on sales and will be neutral to slightly positive on operating profits through the fiscal year ending March 31, 2004. Afterward, Microcell should add to operating profits.Shares of Flextronics were losing 8 cents to $11.24 in recent Nasdaq trading.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV