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The hunted has become the hunter in the realm of flexible circuits and laminates.
Less than three months after two minority shareholders unsuccessfully battled to take over struggling Sheldahl Inc., the Northfield, Minn., company is itself chasing a rival maker of flexible circuits in a last-ditch attempt to emerge from its financial and operational problems.
Sheldahl said last week it is negotiating to acquire International Flex Technologies (IFT) Inc., a privately owned fine-line flexible- circuit company based in Endicott, N.Y. According to Edward Lundstrom, president and chief executive of Sheldahl, the two companies have agreed to deal exclusively with each other until Aug. 7, based on a proposal that would enable Sheldahl to acquire IFT in a shares swap.
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