Zycon shares traded as high as 17-7/8 this afternoon, up from its close of 17-5/8 yesterday, when it hit another 52-week high. The stock closed today at 17-21/32.
That offer surpassed an earlier bid by Dallas-based Hicks, Muse, Tate & Furst to buy the company at 16-1/4 a share. Hicks Muse is a leveraged buyout firm.
The acquisition of Zycon is designed to give Hadco a lead position in the interconnect market and increase its West Coast and Asian presence, Hadco chief executive Andy Lietz said in a statement. The deal is expected to close in mid-January.
A spokesman for Hicks Muse said the firm has no plans to offer a higher bid for Zycon.