Nypro Shareholders Approve Acquisition
More than 98 percent of the members of Nypro's employee ownership stock plan have voted to go forward with an acquisition by Florida-based Jabil Circuit Inc., Nypro said.
For some long-time Nypro workers, the vote could mean big payouts. Nypro said in February that some retiring workers have cashed out more than $1 million in past years.
"This is an exciting day for Jabil and we are thrilled at the overwhelmingly positive response from Nypro's employee shareholders," Courtney Ryan, Jabil's senior vice president of global business units, said in a statement.
Nypro, a precision injection molding and contract manufacturer based in Clinton, said it's still awaiting anti-trust approvals from China, Mexico and Hungary. The United States, Russia and Germany have signed off.
Those remaining approvals have caused the $665-million deal to take longer than expected. Originally anticipated to close in May, the deal is now expected to close between June and August, Nypro said.
Correction: The original version of this story incorrectly stated when the acquisition is expected to close. The two companies anticipate the deal closing in Jabil's fiscal fourth quarter, which ends Aug. 31.
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