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Stock Market & Financial Investment News

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July 17, 2014
16:05 EDTKTCCKey Tronic signs Letter of Intent to acquire CDR Manufacturing for $46.9M
Key Tronic has signed a letter of intent to acquire CDR Manufacturing for $46.9M in cash. The letter of intent includes a 75 day exclusivity period for completion of due diligence and negotiation of the definitive agreement. CDR has annual revenue of approximately $120M and provides printed circuit board assembly and other EMS services to a diversified customer base. The acquisition, if consummated, is expected to be immediately accretive to earnings. Key Tronic expects the transaction to be completed during 1Q15.
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