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Zycon stock riding high

Shares of Zycon hit a 52-week high after it received a higher competing bid to acquire the company, closing at 17-21/32.

Shares of Zycon (ZCON) hit a 52-week high today after the printed circuit board maker said it received a higher competing bid to acquire the company.

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.

The circuit board maker said Hadco (HDCO), a maker of connector products for computers, offered about $205 million, or $18 a share, to purchase all outstanding shares of the company.

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.