Nypro Shareholders Approve Plan to Merge with Jabil
CLINTON, Mass.--(BUSINESS WIRE)-- The Employee Stock Ownership Plan (ESOP) participants and shareholders of Nypro Inc. have voted overwhelmingly to approve the transaction with Jabil Circuit, Inc. (NYS: JBL) . The vote was announced at a special meeting of shareholders this morning at Nypro headquarters in Clinton.
Nypro's President & CEO Ted Lapres made the announcement, noting, "more than 98 percent of the outstanding voting shares of Nypro were cast in favor of the merger." Courtney Ryan, Jabil's Senior Vice President, Global Business Units, who will assume a leadership role in the combined Nypro-Jabil operations, said, "This is an exciting day for Jabil and we are thrilled at the overwhelmingly positive response from Nypro's employee shareholders."
The transaction will be finalized once all remaining closing conditions, primarily the receipt of applicable anti-trust approvals, have been completed. Antitrust approvals have been received in the United States, Russia and Germany and are pending in China, Mexico and Hungary. Approvals are currently anticipated to be received during Jabil's fourth fiscal quarter.
With facilities in 30 countries, Jabil is an electronic product solutions company providing comprehensive electronics design, manufacturing and aftermarket product management services to global electronics and technology companies. Jabil is based in St. Petersburg, Florida and employs 165,000 globally.
Nypro is a global leader in plastics manufacturing with 12,000 employees in 10 countries, serving the healthcare, packaging and consumer electronics markets.
FORWARD LOOKING STATEMENT: This news release contains forward-looking statements, including those regarding Mr. Ryan's assumption of a leadership role in the combined Nypro-Jabil operations; the finalization of the merger; and the expectation that all government approvals will be obtained during Jabil's fourth fiscal quarter.The statements in this news release are based on current expectations, forecasts and assumptions involving risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to: the transaction failing to close for any reason, including a failure to obtain the remaining regulatory antitrust clearances; a delay in closing; financing for the transaction not occurring as anticipated; changes in our strategy regarding the combined Nypro-Jabil operations, particularly the leadership of such operations; the post-acquisition performance of Nypro; Nypro having potential unanticipated liabilities; other factors that we may not have currently identified or quantified; and other risks, relevant factors and uncertainties identified in our Annual Report on Form 10-K for the fiscal year ended August 31, 2012, subsequent Reports on Forms 10-Q and 8-K and our other securities filings. Jabil disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Jabil Circuit, Inc.
Investor & Media Contact:
Beth Walters, 727-803-3511
Senior Vice President, Investor Relations & Communications
KEYWORDS: United States North America Florida Massachusetts
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