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Author: ultrabrite Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 553  
Subject: FLEX to Sell Assets to KKR for $900 million Date: 4/17/2006 1:47 PM
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"This transaction is the continuation of our previously announced strategy of focusing our efforts and resources on the reacceleration of significant growth opportunities in our core EMS business, which includes design, vertically-integrated manufacturing services, components and logistics," said Chief Executive Michael McNamara in a statement. "Flextronics will have generated cash proceeds in excess of $1 billion through the divestitures of our software, network services and semiconductor businesses, assuming this transaction is consummated."

There is clear resistance on the chart around $11.29 and today the shares reached a high of $11.40 intraday before pulling back. FLEX will be reporting Q4 results on April 27th after the close.

JT :-)
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