Shareholders of automotive supplier Cherry Corp. have received a buyout proposal from the company's Chairman and President Peter Cherry and his affiliates to acquire all of the company's outstanding common stock for $18.75 per share in cash. Mr. Cherry's group currently owns about 5.5 million shares, or 54%, of the company's common stock. Cherry manufactures automotive electrical switches, sensors, electronic keyboards and controls. The company's board of directors has appointed a special ...
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