WT Microelectronics has agreed to acquire 100 per cent of the Canadian electronic components firm’s shares for an enterprise value of US$3.8 billion. The all-cash transaction is expected to close in the first half of next year, and is subject to customary closing conditions and regulatory approvals. (The Logic)
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WT Microelectronics has agreed to acquire 100 per cent of the Canadian electronic components firm’s shares for an enterprise value of US$3.8 billion. The all-cash transaction is expected to close in the first half of next year, and is subject to customary closing conditions and regulatory approvals. (The Logic)
Talking point: The deal comes months after founder and CEO Robert Miller resigned in the wake of a Radio-Canada report alleging the billionaire paid numerous young girls for sexual favours for over a decade. Miller has denied the claims. Founded in 1968, Future Electronics has operations in 47 countries and has about 5,200 employees. Miller and his son Rodney are the sole administrators of Alonim Investments, the holding company listed as the majority shareholder of Future Electronics, according to Quebec business records. WT Microelectronics is a publicly traded company with 1,880 employees, according to PitchBook data.
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