Flextronics to buy Solectron for $3.6 bn

Flextronics International Ltd., which manufactures electronics for other companies, agreed to buy Solectron Corp. for about $3.6 billion.

Shareholders of Milpitas, California-based Solectron can choose to receive 0.345 share of Flextronics, or $3.89 in cash, for each Solectron share, the companies said in joint statement distributed by PR Newswire today. Flextronics is based in Singapore.