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Tyco completes its buyout of Praegitzer
Tyco International Ltd. has completed its tender offer to buy Oregon-based Praegitzer Industries, the company announced Wednesday.
Tyco purchased 12,637,632 common shares -- 96.25 percent of the company -- for $5.50 per share, according to the company's depository firm. That places the value of the deal at $69.5 million. The tender offer ended Nov. 30.
Allen Broderick, who oversees Praegitzer's White City plant, said he hasn't gotten official word on when Tyco will assume control. No major changes are expected at the plant, which employs just under 400 people.
Tyco officials didn't return a phone call seeking comment on the plant's future.