Faegre Baker Daniels is representing publicly-held Hutchinson Technology Incorporated (HTI) in the company’s sale to Tokyo-based TDK Corporation. TDK will pay $3.62 per share for Hutchinson, plus up to another 38 cents per share depending on Hutchinson's cash holdings as the transaction closes.
Hutchinson Technology is a global supplier of critical precision component technologies. As a key supplier of suspension assemblies for disk drives, HTI helps customers improve overall disk drive performance and meet the demands of an ever-expanding digital universe.
TDK is a leading electronics company based in Tokyo, Japan. It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products.
The transaction is expected to close in the first quarter of 2016 pending shareholder and regulatory approval.
The FaegreBD team representing HTI is being led by Peggy Steif Abram, Mike Stanchfield and Kate Sherburne. The team also includes Ryan Woessner, Angie Castille, Del Ehrich, Emily Chow, Dawn Pruitt, Walt Linder, Jon Nygren, Rick Duncan, Lisa Pugh, J.P. Hanlon and Mark Shope.