Flex is trading 4.15% lower at $94.41, with reports pointing to financing concerns over the planned Axiom spin-off.
- Concerns include Axiom’s $37.5 billion valuation, a 10% dividend on $2 billion of preferred stock, and Flex’s redemption guarantee if the separation is not completed.
- Reports also cite debt used to fund the $4.4 billion EPC Power acquisition.
- Technology shares are under pressure, but available context does not establish a broad-market move large enough to explain the decline. No new Flex announcement is identified for October 16.