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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."

http://www.flextronics.com/News/PressReleases/PressReleases06/20060416SJA.pdf

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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