Anaheim-based Multi-Fineline Electronix Inc. said Monday its suit against parent WBL Corp. over an unwanted acquisition was dismissed by a Delaware court.
The case was thrown out on technical issues, including jurisdiction over Singapore-based WBL.
M-Flex, as the circuit board maker is known, had planned to acquire another WBL-owned company, MFS Technology Inc.
Last spring, M-Flex offered $500 million for MFS but soon sought to get out of the deal after a sales downturn at MFS and its own slowdown.
M-Flex sued WBL in Delaware and in Singapore.
The Delaware court also cited the expiration of WBL’s offer to sell its stake in MFS to M-Flex.
In Monday’s announcement, M-Flex said its parent “is seeking advice from its professional advisers with regard to its position on the offer.”
Reports out of Singapore suggest WBL’s interest in the deal has waned.
