A Chinese company is now trying to take over Nelson’s Pacific Insight.
Shenzhen Kaizhong Precision Technology is making a last-minute bid to acquire all of the company’s shares. They’re offering $190 million.
Last month Chicago-based Methode Electronics reached a deal to acquire the company for $144 million.
Shenzhen says their offer is superior to Methode’s but Pacific Insight’s board disagrees.
They’re telling shareholders to ignore it and vote in favour of the Methode deal on Sept. 26
Pacific Insight makes electronic components for auto parts at its plant a few kilometers west of Nelson, where it employs over 200 people.
In addition, it has a factory in Mexico and offices in Vancouver and Detroit.
