SEIVI, FINLAND -- Scanfil Oyj has received all mandatory approvals from regulators for its proposed acquisition of PartnerTech, clearing one hurdle with one more to go.
The Finnish contract assembler's $53 million offer for its Scandinavian competitor was conditional, pending the approvals.
On May 25, Scanfil offered the shareholders of PartnerTech SEK 35 in cash per share, contingent on more than 90% of the total number of shares in PartnerTech accept.
PartnerTech shareholders have until June 23 to accept the offer. The EMS company's board has already signaled its approval.