Kingboard, an operator of diversified businesses, offered to acquire Elec & Eltek, a printed circuit board manufacturer, for $115m. Kingboard is offering $2.33 per share. The offer price represents a 51.6 per cent premium. Kingboard intends to continue E&E's existing businesses, retain employees, and develop synergies between E&E and businesses under its group. It will also explore the possibility of re-aligning or re-deploying E&E assets and assess opportunities to enhance the circuit board-maker's financial flexibility.