|
|
Article: Imation Closes Acquisition of TDK Brand Recording Media Business for Approximately $260 Million in Stock and Cash.
- Article from:
- PR Newswire
- Article date:
- July 31, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
OAKDALE, Minn., July 31 /PRNewswire-FirstCall/ -- Imation Corp. today announced that it has completed the previously announced acquisition of the TDK brand recording media business and use of the TDK brand name for recording media products worldwide, for a combination of Imation common stock and cash.
Imation issued to TDK Corporation 6.8 million shares of Imation common stock, representing 16.6 percent of shares outstanding after issuance of the shares to TDK. Additional cash consideration and customary closing costs and advisory fees brought the total cost to Imation to approximately $260 million. Additional cash consideration of up to $70 million could be ...