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Nypro owners approve Jabil acquisition

Nypro said that its Employee Stock Ownership Plan (ESOP) participants and shareholders have voted "overwhelmingly" to approve an acquisition by Jabil Circuit that was announced Feb. 4.The vote was announced at a special meeting of shareholders this morning at Nypro headquarters in Clinton, MA.Nypro CEO Ted Lapres said that "more than 98% of the outstanding voting shares of Nypro were cast in favor of the merger."

PlasticsToday Staff

April 2, 2013

1 Min Read
Nypro owners approve Jabil acquisition

Courtney Ryan, Jabil's senior vice president, Global Business Units, who will assume a leadership role in the combined Nypro-Jabil operations, said, "This is an exciting day for Jabil and we are thrilled at the overwhelmingly positive response from Nypro's employee shareholders."

The transaction will be finalized once all remaining closing conditions, primarily the receipt of applicable anti-trust approvals, have been completed. Antitrust approvals have been received in the United States, Russia and Germany and are pending in China, Mexico and Hungary. Nypro said that approvals are expected to be received during Jabil's fourth fiscal quarter, which ends Aug. 31.

Jabil officials had originally hoped to complete the deal in May.

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