— The largest shareholder in flex circuit maker Multi-Fineline Electronix
has turned down an offer by a rival to purchase the company. WBL Corp. Ltd.,
M-Flex's biggest stockholder, voted not to accept shares in MFS Technology
as part of an offer MFS made for M-Flex.
WBL shareholder approval was a pre-condition of the deal.
An M-Flex special committee had withdrawn its recommendation for the offer last August.