American Technical Ceramics Corp. (AMK) filed a definitive proxy with the SEC today stating that shareholders will be voting on a proposed merger with electronic components maker AVX Corporation (NYSE:AVX) on September 21.
According to the terms of the merger, American Technical Ceramics shareholders will receive $24.75 per share in cash. The merger is expected to close in the third quarter of 2007, and is subject to customary closing conditions in addition to ATC shareholder approval.
ATC designs, develops, manufactures and markets electronic components, including ceramic multilayer capacitors and custom thin film circuits. ATC's products are utilized in a broad range of commercial and military applications, making it a good fit within AVX once the merger is completed.