8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  July 14, 2003

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METHODE ELECTRONICS, INC.

(Exact name of registrant as specified in its charter)

Delaware	0-2816	36-2090085
State of Other Jurisdiction of Incorporation	Commission File Number	I.R.S. Employer Identification Number
7401 West Wilson Avenue, Chicago, Illinois 60706
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (708) 867-6777
Not Applicable
(Former name or former address, if changed since last report)

ITEM 5. Other Events

On July 14, 2003, the William J. McGinley Marital Trusts gave notice of termination of the Agreement dated August 19, 2002, as amended December 26, 2002, by and among Methode Electronics, Inc.; Marital Trust No. 1 and Marital Trust No. 2 each created under the William J. McGinley Trust; Jane R. McGinley; Margaret J. McGinley; James W. McGinley; and Robert R. McGinley (the “Agreement”).  A copy of the Notice of Termination is attached hereto as Exhibit 99.1 and is incorporate d herein by reference.

On July 14, 2003, the Company issued a press release to announce that the William J. McGinley Marital Trusts gave notice of termination of the Agreement.  A copy of the press release is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

ITEM 7. Financial Statements and Exhibits

(c)           Exhibits

99.1Notice of Termination, dated July 14, 2003, of the Agreement dated August 19, 2002, as amended December 26, 2002, by and among Methode Electronics, Inc.; Marital Trust No. 1 and Marital Trust No. 2 each created under the William J. McGinley Trust; Jane R. McGinley; Margaret J. McGinley; James W. McGinley; and Robert R. McGinley.

99.2Methode Electronics, Inc. Press Release issued July 14, 2003.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	METHODE ELECTRONICS, INC.
Date:  July 14, 2003	By:	/s/ Douglas A. Koman
		Douglas A. Koman
		Vice President, Corporate Finance

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EXHIBIT INDEX

Exhibit No.	Description
99.1	Notice of Termination, dated July 14, 2003, of the Agreement dated August 19, 2002, as amended December 26, 2002, by and among Methode Electronics, Inc.; Marital Trust No. 1 and Marital Trust No. 2 each created under the William J. McGinley Trust; Jane R. McGinley; Margaret J. McGinley; James W. McGinley; and Robert R. McGinley.
99.2	Methode Electronics, Inc. Press Release issued July 14, 2003.

EX-99.1

Exhibit 99.1

Notice of Termination of Agreement dated August 19, 2002, as amended

This Notice of Termination of the Agreement dated as of August 19, 2002 by and among Methode Electronics, Inc. (“Methode”) and the Stockholders, as amended (“Agreement”) is given to Methode by the Trusts as of July 14, 2003. All capitalized terms herein shall have the meaning set forth in the Agreement.

WHEREAS, the Agreement provided for, among other things, Methode to make a tender offer to purchase all of Methode’s outstanding shares of Class B common stock at $20.00 per share in cash (“Methode Offer”) and provided the End Date of March 31, 2003; and

WHEREAS the Amendment to the Agreement dated December 26, 2002 extended the End Date to May 31, 2003;

WHEREAS, the Agreement has not been further amended;

WHEREAS, on July 8, 2003, DURA Automotive Systems, Inc. commenced a tender offer for all of the outstanding Class B common stock of the Corporation at a price of $23.00 per share in cash (“Dura Offer”);

WHEREAS, a special meeting of the eligible holders of Methode’s Class A common stock scheduled to be held on Thursday, July 10, 2003, to consider and vote upon a proposal to approve the making of the Methode Offer has been adjourned until Thursday, July 24, 2003;

WHEREAS, the Stockholders recognize that, under such circumstances, Methode cannot complete the Methode Offer prior to August 16, 2003;

WHEREAS, the Stockholders could suffer substantial adverse tax consequences in the event that Methode could not complete the Methode Offer;

NOW, THEREFORE, pursuant to Section 7 of the Agreement, the Trusts hereby give notice of termination of the Agreement to Methode.

This Notice of Termination is hereby executed by the Trusts as of July 14, 2003.

MARITAL TRUST NO. 1 AND MARTIAL TRUST 2 CREATED UNDER THE WILLIAM J. MCGINLEY TRUST

By:		Bank One, as successor co- trustee of Marital Trust No. l and Marital Trust No.2 created under the William J. McGinley Trust
By:		/s/ Michael Lahti
Its:		Vice President & Trust Officer
By:		/s/ Margaret J. McGinley
		Margaret J. McGinley, as co-trustee of Marital Trust No. 1 and Marital Trust No. 2 created under the William J. McGinley Trust
By:	/s/ Robert R. McGinley
		Robert R. McGinley, as co trustee of Marital Trust No. 1 and Marital Trust No. 2 created under the Trust William J. McGinley Trust
By:		/s/ James W. McGinley
		James W. McGinley, as co- trustee of Marital Trust No.1 and Marital Trust No. 2 created under the William J .McGinley Trust

EX-99.2

Exhibit 99.2

News Release
Contact:	Joey Iske
	Director of Investor Relations
	708-457-4060
	jiske@methode.com

McGinley Trusts Terminate Agreement with Methode Electronics, Inc.

CHICAGO, July 14, 2003 /PRNewswire-FirstCall/ — Methode Electronics, Inc. (Nasdaq: METHA) today announced that the William J. McGinley Marital Trusts (the “McGinley Trusts”) today gave notice of termination of the Agreement dated August 19, 2002, amended December 26, 2002, with Methode.  Under this Agreement, the McGinley Trusts and related family members had agreed to tender all of their shares of Class B common stock to Methode.

Warren Batts, Chairman of the Special Committee representing the Class A stockholders of the Company, said:  “We are disappointed that the McGinley family decided to take this action at a time when we have been attempting in good faith to reach a negotiated solution.  We will continue to try to negotiate with the family but there can be no assurance we will be able to get there.”

About Methode Electronics

Methode Electronics, Inc. is a global manufacturer of component and subsystem devices. Methode designs, manufactures and markets devices employing electrical, electronic, wireless, sensing and optical technologies. Methode’s components are found in the primary end markets of the automotive, communications (including information processing and storage, networking equipment, wireless and terrestrial voice/data systems), aerospace, rail and other transportation industries; and the consumer and industrial equipment markets. Further information can be found at Methode’s website www.methode.com.