Faegre Baker Daniels represented publicly-held Hutchinson Technology Incorporated (HTI) in the company’s sale to Tokyo-based TDK Corporation. 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. It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products.
Peggy Steif Abram and Mike Stanchfield led the core deal team representing HTI, which included Angie Castille, Emily Chow, Rick Duncan, Jennifer Mewaldt, Steven Reeves, Kate Sherburne and Ryan Woessner.
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