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Flextronics purchase of Solectron gets U.S. antitrust nod

July 17, 2007

WASHINGTON, D.C. — U.S. antitrust authorities said on Tuesday they approved plans by Flextronics International Ltd. to buy rival Solectron Corp. Officials have completed their investigation of the deal without taking action to block it, the Federal Trade Commission said in a notice.

The transaction between the biggest U.S. companies in the contract electronics industry would create a company with more than $30 billion in annual revenue and a work force of about 200,000 people. The deal was valued at $3.6 billion in cash and stock when it was announced on June 4.