ADFlex Announces Completion of Innovex Tender Offer and Cancellation of Annual Stockholders' Meeting.CHANDLER, Ariz.--(BUSINESS WIRE)--Aug. 4, 1999-- ADFlex Solutions Inc. (Nasdaq: AFLX) Wednesday announced that Innovex Inc. has successfully completed its tender offer to purchase shares of ADFlex common stock for $3.80 per share. Following the consummation CONSUMMATION. The completion of a thing; as the consummation of marriage; (q.v.) the consummation of a contract, and the like. 2. A contract is said to be consummated, when everything to be done in relation to it, has been accomplished. of the tender offer, ADFlex will merge into a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Innovex. The merger is expected to be finalized See finalization. within the next few weeks. As a result of the successful tender offer, ADFlex has cancelled its stockholders' meeting that was to be held Thursday, Aug. 5, 1999. ADFlex Solutions Inc. is a leading supplier of flexible circuit-based interconnect solutions to the computer, computer peripheral, communications and consumer electronic product industries. Applications for flex-based interconnects include cellular telephones, hard disk drives and other storage systems, high-end consumer products, notebook computers A laptop computer that weighs in a range from five to seven pounds. The term originated when laptops were routinely more than 10 pounds, and those that became lighter were placed in a special "notebook" category. In practice, notebook computer and laptop computer are synonymous. , pagers and personal communications systems In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. . |
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