Publicly-held Hutchinson Technology Incorporated (HTI) was sold to Tokyo-based TDK Corporation in October 2016. Faegre Baker Daniels represented HTI in the transaction.
Under the terms of the merger agreement, each outstanding share of common stock of HTI was canceled and converted into the right to receive $4 per share, without interest.
HTI is a global supplier of critical precision component technologies. TDK is a leading electronics company based in Tokyo, Japan, established in 1935 to commercialize ferrite, a key material in electronic and magnetic products.