Summary
Amphenol Corporation (APH) has filed an 8-K report detailing a significant acquisition. On October 10, 2005, Amphenol entered into an Asset and Stock Purchase Agreement with Teradyne, Inc. to acquire the entirety of Teradyne's backplane and connection systems business segment (TCS), including certain subsidiaries. This acquisition is valued at approximately $390 million, subject to post-closing adjustments based on net asset value. Amphenol plans to finance this transaction by expanding its existing revolving credit facilities. The deal is anticipated to close in the fourth quarter of 2005, contingent upon customary closing conditions, including obtaining necessary governmental approvals. This strategic move is expected to expand Amphenol's product portfolio and market reach within the connection systems sector.
Key Highlights
- 1Amphenol Corporation entered into a material definitive agreement to acquire Teradyne, Inc.'s backplane and connection systems business (TCS).
- 2The acquisition price is set at $390 million, with potential adjustments based on the final net asset value of the acquired business.
- 3The transaction will be financed through an increase in Amphenol's revolving credit facilities.
- 4Consummation of the deal is expected in the fourth quarter of 2005.
- 5Key conditions for closing include receiving required governmental approvals.
- 6The acquired business includes substantially all assets and certain liabilities of Teradyne's TCS segment, along with the stock of its operating subsidiaries.